Citgo ofac

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August undefined, 2024

WebApr 21, 2024 · The Reasons Behind OFAC’s General License 5C. In 2024, the Government of Venezuela defaulted on the 8.5% Bond, and bondholders sought to enforce their rights to the collateral used to back this bond: a number of shares in CITGO Petroleum Corporation (“CITGO”), the U.S. refiner that originally was owned and controlled by PDVSA and now … WebFeb 20, 2024 · I. CITGO . SDN Designation: CITGO is an SDN by virtue of being wholly owned by PdVSA. However, concurrent with PdVSA’s SDN designation, OFAC issued …

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WebJan 17, 2024 · "Transactions related to the sale or transfer of Citgo shares in connection with the PDVSA 2024 8.5-percent bond are prohibited, unless specifically authorized by OFAC," the office said. WebMar 4, 2024 · In 2024, CITGO had to replace revolver liquidity with a drawn term loan, given bank concerns about OFAC sanctions against Venezuelan entities. The new term loans contain language that allows for the eventual creation of a secured revolver. Fitch believes CITGO has access to a capital pool that is narrow but deep. simpsons wave figures

OFAC Extends Expiration Date of General License Related …

WebMar 15, 2024 · The US Department of the Treasury’s Office of Foreign Assets Control (‘OFAC’) has issued a licence permitting some transactions with PDV Holding, Inc. and CITGO Holding, Inc., which would otherwise … WebSep 15, 2024 · A judge approved the sale of shares in Citgo's immediate parent earlier this year to satisfy Crystallex's $1.4 billion judgment for the expropriation of its assets in Venezuela. WebJul 20, 2024 · US Extends Citgo Protection [PDF Download] ENERGY ANALYTICS INSTITUTE (EAI) 20 July 2024. (Department of the Treasury, 20.Jul.2024) — The Office … simpsons waverly hills

OFAC Issues New Venezuela General License, Effectively Delaying ...

What does CITGO stand for? - abbreviations

WebLaw360 (May 4, 2024, 8:31 PM EDT) -- A federal judge in Delaware on Wednesday allowed Venezuela to immediately appeal his decision not to wait for an official signoff from the Biden administration ... WebOct 20, 2024 · OFAC, in consultation with the Department of State, issued GL 7 on January 28, 2024, pursuant to E.O. 13850, as amended. Paragraph (a) of GL 7 authorized certain … razor pages frombodyWebFeb 25, 2024 · Legal Framework for the Venezuela-related Sanctions. The Venezuela-related Sanctions program represents the implementation of multiple legal authorities. … Contact OFAC; Sanctions Programs and Country Information. OFAC administers … 401. OFAC’s 50 Percent Rule states that the property and interests in property of … simpsons wave of towel snappings

"WebOFAC Again Extends Measure Protecting PDVSA's CITGO Shares from Bondholders. The Treasury Department extended, through January 19, 2024, a measure barring certain … " - Citgo ofac

Citgo ofac

Judge Allows Citgo Sales Process To Go Forward - Law360

WebSep 15, 2024 · Citgo has been controlled by Venezuelan opposition leader Juan Guaido since 2024, when Washington recognized him as the South American country's leader … WebVenezuela Sanctions. On January 28th, OFAC designated Petroleos de Venezuela S.A., which is Venezuela’s national oil and natural gas company. The PdVSA, as it is known, was placed on OFAC’s Specially Designated Nationals and Blocked Persons List, or the SDN List, pursuant to E.O. 13850. This means that US persons are generally prohibited ...

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WebOct 8, 2024 · A U.S. judge could rule soon on a final auction schedule that could force a breakup of Venezuela-owned Citgo Petroleum, the seventh-largest U.S. oil refiner by … WebJan 17, 2024 · The United States on Tuesday extended for three months a license that protects Venezuela-owned oil refiner Citgo Petroleum from bondholders trying to seize its assets to recoup about $900 million...

WebMar 14, 2024 · March 14, 2024. Washington – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today extended the expiration date of a general … WebMar 4, 2024 · Guayaquil, Ecuador, March 4, 2024 ( venezuelanalysis.com) – A US judge greenlighted an auction procedure for Houston-based Venezuelan oil subsidiary CITGO. …

WebOct 24, 2024 · Ironically, CITGO is protected by Executive Order 13884, which prevents the seizure of any Venezuelan assets without authorization from OFAC. As this Order prevents the transfer of Venezuelan assets in the United States, neither the 2024 Bond holders nor Crystallex will be able to collect the compensation they claim from the auction of CITGO ... Web5 hours ago · En el 2024, la OFAC emite una serie de Ordenes Ejecutivas o sanciones específicas: 13857, 13808, 13827, 13835, entre otras, que impiden cualquier tipo de financiamiento al gobierno venezolano y a PDVSA, así como transacciones en general con cualquier ente o personas relacionadas directa o indirectamente con el gobierno …

WebJun 10, 2024 · On June 6, 2024, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) amended three Venezuela-related general licenses (re-issued as General License No. 7B, General License No. 8A, and General License 13A) to clarify that these authorizations do not authorize US Persons to engage in transactions or dealings related …

WebApr 11, 2024 · Un dirigente opositor pone el dedo sobre la llaga de Citgo: «No se supo nunca que pasaba, nadie dio explicaciones» El dirigente opositor Luis Aquiles Moreno volvió a poner el dedo sobre la llaga qu… razor pages hello worldWebMar 31, 2024 · The Global Magnitsky Sanctions program represents the implementation of multiple legal authorities. Some of these authorities are in the form of an executive order issued by the President. Other authorities are public laws (statutes) passed by The Congress. These authorities are further codified by OFAC in its regulations which are … razor pages hot reload not workingWebOn August 5, 2024, the Trump administration imposed new sanctions on the Government of Venezuela by freezing the property and assets of the regime of Venezuelan President Nicolás Maduro as well as those who provide it with “material support.”. Issued on the eve of a major international conference on the Venezuelan political crisis in Lima ... razor pages html.rawWebMar 20, 2024 · On March 14, 2024, OFAC reissued General License 7 (“GL 7”) as General License 7A (“GL 7A”) to extend the general license’s authorization for certain activities involving PDV Holding, Inc. (“PDVH”) and CITGO Holding, Inc. (“CITGO”). While the original GL 7(a) was set to expire on July 27, 2024, GL 7A(a) automatically renews on the razor pages hot reloadWebOct 15, 2024 · GL-5E appears intended to protect bondholders of CITGO Holding, Inc. (“Citgo”), which is a wholly owned subsidiary of Venezuela’s state-owned oil and natural gas company, Petróleos de Venezuela, S.A. (“PdVSA”). ... which clarifies the scope of GL-5E. OFAC also noted that, to the extent an agreement may be reached on proposals to ... razor pages if checkbox is checkedWebCitgo. Citgo Petroleum Corporation (or Citgo) is a United States-based refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial … razor pages github razor pages in c#