OFAC Publishes Seven New Venezuela Sanctions General Licenses

The Treasury Department's Office of Foreign Assets Control (OFAC) published seven general licenses - GLs 52, 53, 54, 55, 56, 57, and 58 - in the Federal Register (Vol. 91, No. 188, Sep. 30, 2026, pp. 61771-61775; FR Doc No. 2026-20008). The notice makes the text of each license, previously posted on OFAC's website, part of the official record.

General License 52, issued on March 18, 2026, authorizes transactions involving Petróleos de Venezuela, S.A. (PdVSA) or any entity in which PdVSA holds a 50 percent or greater interest, when performed by an "established U.S. entity" (any entity organized under U.S. law on or before Jan. 29, 2025). Contracts must be governed by U.S. law, dispute resolution must occur in the United States, and any payment to a blocked person - except for local taxes, permits, or fees - must be deposited in the Foreign Government Deposit Funds established by E.O. 14373. The license also requires detailed transaction reports within ten days of the first transaction and every 90 days thereafter.

General License 53, dated March 24, 2026, permits the provision of goods and services in the United States to official Venezuelan missions and their employees for official business or personal use, provided the transactions do not involve real-property deals or other prohibitions.

General License 54, issued March 27, 2026, authorizes the supply of goods, technology, software, or services needed for mineral operations - including gold - by the Venezuelan government, Minerven, or any Minerven-owned entity, subject to the same contract and payment conditions as GL 52.

The remaining licenses - GL 55 (March 27, 2026), GL 56 and GL 57 (April 14, 2026), and GL 58 (May 5, 2026) - similarly authorize narrowly defined transactions otherwise prohibited by the Venezuela Sanctions Regulations. Their full texts are now codified in the Federal Register.