Venezuela sanctions licenses now official on paper too
Published Date: 9/11/2026
Rule
Summary
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 50A and 51A, each of which was previously made available on OFAC's website.
Analyzed Economic Effects
7 provisions identified: 2 benefits, 5 costs, 0 mixed.
GL51A authorizes minerals (including gold) by U.S. entities
Effective March 27, 2026, General License 51A authorizes transactions ordinarily incident to the export, sale, transport, or processing of Venezuelan-origin minerals (including gold) by an "established U.S. entity," defined as any entity organized under U.S. law on or before January 29, 2025, provided contracts are governed by U.S. law and payments follow the Foreign Government Deposit Funds rule.
GL51A broader prohibitions on locations and partners
GL 51A (effective March 27, 2026) forbids payment terms that are not commercially reasonable, debt swaps, or payments in digital currency (including the petro); it bars transactions with persons in or organized under the laws of the Russian Federation, Iran, DPRK, or Cuba; prohibits transactions involving entities owned/controlled by or in joint venture with persons in the People's Republic of China in or organized under the laws of Venezuela or the U.S.; and forbids processing/refining in the listed foreign countries and exploration/mining or forming joint ventures in Venezuela.
GL50A authorizes oil/gas operations
Effective February 18, 2026, OFAC's General License 50A authorizes transactions related to oil or gas sector operations in Venezuela by the entities listed in the Annex (BP PLC, Chevron Corporation, Eni S.p.A., Établissements Maurel & Prom SA, Repsol S.A., and Shell PLC) and their subsidiaries, provided contracts are governed by U.S. law and dispute resolution occurs in the United States.
Required payment routing into deposit funds
Both GL 50A (effective February 18, 2026) and GL 51A (effective March 27, 2026) require that any monetary payment to a blocked person (excluding payments for local taxes, permits, or fees) must be made into the Foreign Government Deposit Funds as specified in Executive Order 14373 of January 9, 2026, or into another account as instructed by the U.S. Department of the Treasury.
GL50A prohibited payment terms and counterparties
General License 50A (effective February 18, 2026) does not allow payment terms that are not commercially reasonable, debt swaps, payments in gold, or payments in digital currency (including the petro), and it bars any transaction involving persons located in the Russian Federation, Iran, DPRK, Cuba, or the People's Republic of China, as well as transactions that unblock property or involve blocked vessels.
GL51A reporting and supply-chain due diligence
Under GL 51A, persons exporting, selling, purchasing, or supplying Venezuelan-origin minerals must report to OFAC at [email protected] and [email protected] with parties involved, supply-chain due diligence documentation, quantities, prices, dates, and any taxes or fees; reports are due ten days after the first transaction and every 30 days thereafter while transactions continue.
GL50A transaction reporting deadlines
Under GL 50A, any person engaging in authorized transactions must report to OFAC at [email protected] and [email protected], identifying parties, descriptions (quantities, values, dates), and any taxes or fees to the Government of Venezuela; reports are due ten days after the first such transaction and every 90 days thereafter while transactions continue.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-18569, Publication of Venezuela Sanctions Regulations Web General Licenses 30B and 51.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 30B and 51, each of which was previously made available on OFAC's website.
2026-18565, Publication of Nicaragua Sanctions Regulations Web General License 5
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the Nicaragua Sanctions Regulations: GL 5, which was previously made available on OFAC's website.
2026-18563, Publication of Global Terrorism Sanctions Regulations and Illicit Drug Trade Sanctions Regulations Web General License 35
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing a general license (GL) issued pursuant to the Global Terrorism Sanctions Regulations and the Illicit Drug Trade Sanctions Regulations: GL 35. This GL was previously made available on OFAC's website.
2026-18610, Notice of OFAC Sanctions Actions
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing updates to the identifying information of one or more persons currently included in OFAC's Specially Designated Nationals and Blocked Persons List (SDN List). OFAC is also publishing the names of one or more persons whose property and interests in property have been unblocked and who have been removed from the SDN List.
2026-18576, Publication of Iran-Related Web General Licenses CC and DD.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs CC and DD, which were previously made available on OFAC's website upon issuance.
2026-18461, Iranian Transactions and Sanctions Regulations
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is indefinitely suspending three general licenses and one licensing policy issued pursuant to the Iranian Transactions and Sanctions Regulations to align with changes in the foreign policy of the United States towards Iran.
Previous / Next Documents
Previous: 2026-18569, Publication of Venezuela Sanctions Regulations Web General Licenses 30B and 51.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 30B and 51, each of which was previously made available on OFAC's website.
Next: 2026-18576, Publication of Iran-Related Web General Licenses CC and DD.
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two Iran-related general licenses (GLs): GLs CC and DD, which were previously made available on OFAC's website upon issuance.