Venezuela Bond Deals Get OFAC License Refresh
Published Date: 9/23/2026
Rule
Summary
The Treasury’s Office of Foreign Assets Control (OFAC) published two updated licenses, 5X and 5Y, that let certain people legally deal with Venezuela’s 2020 8.5% bond starting August 4, 2026. These licenses replace older ones and open up new financial opportunities while keeping other sanctions in place. If you’re involved in Venezuela bond transactions, these changes could impact your business starting this summer.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
GL 5X allows PDVSA 2020 bond deals
General License No. 5X, issued June 18, 2026, authorizes transactions related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or after August 4, 2026. GL 5X replaced and superseded General License No. 5W effective June 18, 2026.
GL 5Y continues bond transaction authorization
General License No. 5Y, issued August 3, 2026, authorizes transactions related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or after September 17, 2026. GL 5Y replaces and supersedes General License No. 5X effective August 3, 2026.
Other Venezuela sanctions remain in force
Both General License No. 5X and General License No. 5Y state they do not authorize any transactions or activities otherwise prohibited by the Venezuela Sanctions Regulations or any other part of 31 CFR chapter V. Other applicable VSR prohibitions therefore remain in effect.
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Key Dates
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Previous / Next Documents
Previous: 2026-19421, Publication of International Criminal Court-Related Sanctions Regulations Web General License 12
The Treasury’s Office of Foreign Assets Control (OFAC) published General License 12, letting people wrap up certain blocked transactions involving specific individuals by September 17, 2026. This means if you’re dealing with these folks or their companies, you have a limited time to finish up payments, which must be held in special U.S. accounts. The license was first issued on August 18, 2026, giving a clear deadline to avoid penalties.
Next: 2026-19423, Publication of the Democratic Republic of the Congo Sanctions Regulations Web General License 2
The Treasury’s Office of Foreign Assets Control (OFAC) published General License 2, which lets people legally send agricultural goods, medicine, medical devices, and related supplies to the Democratic Republic of the Congo (DRC) and Rwanda despite sanctions. This license, effective since July 10, 2026, supports health and medical research in these countries without breaking the rules. It’s a big win for helping fight diseases and support clinical trials in the region.