March 14, 2019 / 8:10 PM / 7 months ago

U.S. acts to keep Citgo operations going in face of Venezuela sanctions

WASHINGTON, March 14 (Reuters) - The U.S. Treasury on Thursday extended the expiration date of a license that allows Citgo Petroleum Corp to maintain operations in markets that are based on long-term commitments, even though it is a unit of sanctioned Venezuelan state-run energy firm PDVSA.

“This extension will further enable CITGO’s ongoing operations while prohibiting any benefit from flowing back to the illegitimate Maduro regime,” an unnamed Treasury spokesperson said in a statement.

The department said the updated license provides an 18-month authorization that renews automatically on a monthly basis. (Reporting by Tim Ahmann; Editing by David Alexander)

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