OFAC issues General License 52C to expand PDVSA transactions

OFAC PDVSA Citgo sanctions General License 52C

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued General License 52C, replacing the previous 52B. This new regulation expands the ability of established U.S. entities to conduct specific commercial and operational transactions with Petróleos de Venezuela (PDVSA) and its subsidiaries, provided they meet strict criteria.

Key provisions of the license include allowing sanctioned individuals to sign authorized contracts in their official capacity as PDVSA employees or representatives. However, the license explicitly prohibits any transactions intended to alter the corporate governance of Citgo Holding, PDV Holding, or Citgo Petroleum Corporation, effectively shielding their current leadership structures from change.

To mitigate risks, OFAC mandates that all contractual disputes be resolved in the United States, United Kingdom, France, or Singapore. Furthermore, payments made to blocked persons—excluding local taxes and fees—must be deposited into designated Foreign Government Deposit Funds. While the license facilitates oil and petrochemical activities, it maintains prohibitions on transactions involving Venezuelan state debt or PDVSA bonds, and excludes dealings with entities from Russia, Iran, North Korea, Cuba, or China.

Entities

Citgo · Donald Trump · Foreign Agricultural Service · Office of Foreign Assets Control · PDVSA · U.S. Department of Agriculture · United States Department of the Treasury · United States government · Venezuela

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] Sanctioned individuals may sign authorized contracts in their official capacity as employees or representatives of PDVSA. economiahoy.digital · actualidad.rt.com · eldiario.com · www.entornointeligente.com
[● 2 SOURCES] Transactions involving Venezuelan debt or PDVSA bonds remain prohibited. www.noticias24hrs.com.ve · finanzasdigital.com
[● 6 SOURCES] Contractual disputes must be resolved in the United States, United Kingdom, France, or Singapore. yaracuyaldia.com · www.noticias24hrs.com.ve · nuevodia.com.ve · eldiario.com · www.entornointeligente.com · +1 more
[● 3 SOURCES] The license applies to U.S. entities established on or before January 29, 2025. yaracuyaldia.com · eldiario.com · finanzasdigital.com
[● 3 SOURCES] The license prohibits transactions intended to alter the governance of PDV Holding, Citgo Holding, or Citgo Petroleum Corporation. economiahoy.digital · www.noticias24hrs.com.ve · www.entornointeligente.com
[● 7 SOURCES] The Office of Foreign Assets Control (OFAC) issued General License 52C on September 14, 2026. economiahoy.digital · yaracuyaldia.com · www.noticias24hrs.com.ve · nuevodia.com.ve · eldiario.com · +2 more
[● 7 SOURCES] General License 52C replaces General License 52B. economiahoy.digital · yaracuyaldia.com · www.noticias24hrs.com.ve · nuevodia.com.ve · eldiario.com · +2 more
[● 5 SOURCES] Payments to blocked persons, excluding local taxes and fees, must be deposited into Foreign Government Deposit Funds. yaracuyaldia.com · www.noticias24hrs.com.ve · nuevodia.com.ve · eldiario.com · finanzasdigital.com