The Office of Foreign Assets Control of the United States Department of the Treasury (Ofac) extended the authorization to trade the PDVSA 2020 Bonds
The operations of the state-owned Citgo are protected after the Office of Foreign Assets Control of the United States Department of the Treasury (Ofac) extended the authorization to trade the PDVSA 2020 Bonds.
These bonds are issued with a yield of 8.5% and are guaranteed with 50.1% of the shares of PDV Holding, Citgo’s parent company.
*Read Also: Citgo rejects AN 2020 report: “We were not illegally appointed”
The measure was extended from March 2025. This supports “all operations related to, the provision of financing for, and other transactions.”
The Treasury office approved the provision of financing and transactions that were prohibited by an executive order issued in 2018 and modified in 2019. In turn, it does not authorize any activities or transactions that are restricted by the VSR or the Code of Federal Regulations.
This November 7, the Treasury Department also extended until May 2025 the license that authorizes US oil companies such as Halliburton, SLB, Baker Hughes and Weatherford to continue with limited operations in Venezuela.
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