OFAC Publishes New General Licenses for Venezuela Port Operations and Gold
The licenses, issued Feb. 10 and March 6, 2026, let U.S. entities conduct port-airport transactions and handle Venezuelan-origin gold under set conditions.
On September 11, 2026, the Office of Foreign Assets Control published in the Federal Register (FR Doc 2026-18569) two web general licenses, GL 30B and GL 51, issued under the Venezuela Sanctions Regulations (31 CFR part 591). The licenses bind any person subject to the VSR who seeks to engage in the authorized activities.
General License 30B, issued February 10, 2026, replaces GL 30A dated February 2, 2021. It authorizes all transactions ordinarily incident to the operation or use of ports and airports in Venezuela, including those involving the Instituto Nacional de los Espacios Acuaticos (INEA) or entities in which INEA holds a 50 percent or greater interest, except where paragraph (c) expressly limits activities with blocked persons other than INEA. The license notes that exporters must still comply with other federal agency requirements, such as those of the Commerce Department's Bureau of Industry and Security.
General License 51, issued March 6, 2026, authorizes U.S. entities organized on or before January 29, 2025 to export, import, refine, and resell Venezuelan-origin gold, provided contracts are governed by U.S. law and disputes are resolved in the United States, and payments to blocked persons (other than local taxes, permits, or fees) are made into the Foreign Government Deposit Funds under Executive Order 14373. The license defines "established U.S. entity" and lists permissible due-diligence, shipping, and logistics activities.
GL 51 also imposes reporting obligations. Licensees must submit a detailed report to the listed OFAC email addresses within ten days after the first transaction and subsequently every 30 days while transactions continue. The license expressly prohibits payment terms involving digital currencies, transactions with persons in Russia, Iran, North Korea, Cuba, or entities linked to China, and any mining or joint-venture activity in Venezuela.
Both licenses are available on OFAC's website and remain subject to the broader VSR framework. The publication formalizes their availability and supersession of prior authorizations, providing regulated pathways for limited commercial engagement with Venezuela.
Further reading