Publication of Venezuela Sanctions Regulations Web General Licenses 46, 46A, and 46B

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Published
May 7, 2026
Issuing agencies

Treasury DepartmentForeign Assets Control Office
Abstract

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing three general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 46, 46A, and 46B, each of which was previously made available on OFAC's website.
Full Text

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<title>Federal Register, Volume 91 Issue 88 (Thursday, May 7, 2026)</title>
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[Federal Register Volume 91, Number 88 (Thursday, May 7, 2026)]
[Rules and Regulations]
[Pages 24719-24722]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-09092]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 591


Publication of Venezuela Sanctions Regulations Web General 
Licenses 46, 46A, and 46B

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of web general licenses.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing three general licenses (GLs) issued 
pursuant to the Venezuela Sanctions Regulations: GLs 46, 46A, and 46B, 
each of which was previously made available on OFAC's website.

DATES: GL 46 was issued on January 29, 2026. See SUPPLEMENTARY 
INFORMATION for additional relevant dates.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Regulatory Affairs, 202-622-4855; or <a href="https://ofac.treasury.gov/contact-ofac">https://ofac.treasury.gov/contact-ofac</a>.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website: <a href="https://ofac.treasury.gov/">https://ofac.treasury.gov/</a>.

Background

    On January 29, 2026, OFAC issued GL 46 to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations (VSR), 31 CFR part 591. On February 10, 2026, OFAC issued 
GL 46A, which replaced and superseded GL 46. On March 13, 2026, OFAC 
issued GL 46B, which replaced and superseded GL 46A. These GLs were 
made available on OFAC's website (<a href="https://ofac.treasury.gov">https://ofac.treasury.gov</a>) when they 
were issued. The text of these GLs is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 46

Authorizing Certain Activities Involving Venezuelan-Origin Oil

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by the Venezuela Sanctions Regulations, 31 
CFR part 591 (the VSR), including those involving the Government of 
Venezuela, Petr[oacute]leos de Venezuela, S.A. (PdVSA), or any entity 
in which PdVSA owns, directly or indirectly, a 50 percent or greater 
interest (collectively, ``PdVSA Entities''), that are ordinarily 
incident and necessary to the lifting, exportation, reexportation, 
sale, resale, supply, storage, marketing, purchase, delivery, or 
transportation of Venezuelan-origin oil, including the refining of such 
oil, by an established U.S. entity are authorized, provided that:
    (1) Any contract for such transactions with the Government of 
Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United 
States or any jurisdiction within the United States govern the contract 
and that any dispute resolution under the contract occur in the United 
States; and
    (2) Any monetary payment to a blocked person is made into the 
Foreign Government Deposit Funds, as specified in Executive Order 14373 
of January 9, 2026, or any other account as instructed by the U.S. 
Department of the Treasury.

    Note 1 to Paragraph (a).  For purposes of this general license, 
the term ``established U.S. entity'' means any entity organized 
under the laws of the United States or any jurisdiction within the 
United States on or before January 29, 2025.


    Note 2 to Paragraph (a).  Transactions authorized by paragraph 
(a) include arranging shipping and logistics services, including 
chartering vessels, obtaining marine insurance and protection and 
indemnity (P&I) coverage, and arranging port and terminal services, 
including with port authorities or terminal operators that are part 
of the Government of Venezuela. Paragraph (a) also authorizes 
commercially reasonable payments in the form of swaps of crude oil, 
diluents, or refined petroleum products.

    (b) This general license does not authorize:
    (1) Payment terms that are not commercially reasonable, involve 
debt swaps or payments in gold, or are denominated in digital currency, 
digital coin, or digital tokens issued by, for, or on behalf of the 
Government of Venezuela, including the petro;
    (2) Any transaction involving a person located in or organized 
under the laws of the Russian Federation, the Islamic Republic of Iran, 
the Democratic People's Republic of Korea, the Republic of Cuba, or any 
entity that is owned or controlled, directly or indirectly, by or in a 
joint venture with such persons;
    (3) Any transaction involving an entity located in or organized 
under the laws of Venezuela or the United States that is owned or 
controlled, directly or indirectly, by or in a joint venture with a 
person located in or organized under the laws of the People's Republic 
of China;
    (4) The unblocking of any property blocked pursuant to the VSR; or
    (5) Any transaction involving a blocked vessel.
    (c) Any person that exports, reexports, sells, resells, or supplies 
Venezuelan-origin oil to countries other than the United States 
pursuant to this general license must provide a detailed report to 
<a href="/cdn-cgi/l/email-protection#c99aa8a7aabda0a6a7ba96a0a7aba6b189babda8bdace7aea6bf"><span class="__cf_email__" data-cfemail="5c0f3d323f283533322f0335323e33241c2f283d2839723b332a">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#67313d3502170815130e09002703080249000811"><span class="__cf_email__" data-cfemail="0e58545c6b7e617c7a6760694e6a616b20696178">[email&#160;protected]</span></a> that identifies, for 
each of these transactions:
    (1) The parties involved;
    (2) The quantities, values, and countries of ultimate destination;
    (3) The dates the transactions occurred; and
    (4) Any taxes, fees, or other payments provided to the Government 
of Venezuela.
    (d) Reports described in paragraph (c) are due ten days after the 
execution of the first of such transactions and every 90 days 
thereafter while such transactions are ongoing.

    Note to General License No. 46.  Nothing in this general license 
relieves any person from compliance with the requirements of other 
Federal agencies, including the Department of Commerce's Bureau of 
Industry and Security.


Bradley T. Smith,
Director, Office of Foreign Assets Control.

Dated: January 29, 2026.

[[Page 24720]]

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 46A

Authorizing Certain Activities Involving Venezuelan-Origin Oil

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by the Venezuela Sanctions Regulations, 31 
CFR part 591 (the VSR), including those involving the Government of 
Venezuela, Petr[oacute]leos de Venezuela, S.A. (PdVSA), or any entity 
in which PdVSA owns, directly or indirectly, a 50 percent or greater 
interest (collectively, ``PdVSA Entities''), that are ordinarily 
incident and necessary to the lifting, exportation, reexportation, 
sale, resale, supply, storage, marketing, purchase, delivery, or 
transportation of Venezuelan-origin oil, including the refining of such 
oil, by an established U.S. entity are authorized, provided that:
    (1) Any contract for such transactions with the Government of 
Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United 
States or any jurisdiction within the United States govern the contract 
and that any dispute resolution under the contract occur in the United 
States; and
    (2) Any monetary payment to a blocked person, excluding payments 
for local taxes, permits, or fees, is made into the Foreign Government 
Deposit Funds, as specified in Executive Order 14373 of January 9, 
2026, or any other account as instructed by the U.S. Department of the 
Treasury.

    Note 1 to Paragraph (a).  For purposes of this general license, 
the term ``established U.S. entity'' means any entity organized 
under the laws of the United States or any jurisdiction within the 
United States on or before January 29, 2025.


    Note 2 to Paragraph (a).  Transactions authorized by paragraph 
(a) include arranging shipping and logistics services, including 
chartering vessels, obtaining marine insurance and protection and 
indemnity (P&I) coverage, and arranging port and terminal services, 
including with port authorities or terminal operators that are part 
of the Government of Venezuela. Paragraph (a) also authorizes 
commercially reasonable payments in the form of swaps of crude oil, 
diluents, or refined petroleum products.

    (b) This general license does not authorize:
    (1) Payment terms that are not commercially reasonable, involve 
debt swaps or payments in gold, or are denominated in digital currency, 
digital coin, or digital tokens issued by, for, or on behalf of the 
Government of Venezuela, including the petro;
    (2) Any transaction involving a person located in or organized 
under the laws of the Russian Federation, the Islamic Republic of Iran, 
the Democratic People's Republic of Korea, the Republic of Cuba, or any 
entity that is owned or controlled, directly or indirectly, by or in a 
joint venture with such persons;
    (3) Any transaction involving an entity located in or organized 
under the laws of Venezuela or the United States that is owned or 
controlled, directly or indirectly, by or in a joint venture with a 
person located in or organized under the laws of the People's Republic 
of China;
    (4) The unblocking of any property blocked pursuant to the VSR; or
    (5) Any transaction involving a blocked vessel.
    (c) Any person that exports, reexports, sells, resells, or supplies 
Venezuelan-origin oil to countries other than the United States 
pursuant to this general license must provide a detailed report to 
<a href="/cdn-cgi/l/email-protection#e6b5878885928f898895b98f8884899ea69592879283c8818990"><span class="__cf_email__" data-cfemail="396a58575a4d5056574a6650575b5641794a4d584d5c175e564f">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#085e525a6d78677a7c61666f486c676d266f677e"><span class="__cf_email__" data-cfemail="f2a4a8a097829d80869b9c95b2969d97dc959d84">[email&#160;protected]</span></a> that identifies, for 
each of these transactions:
    (1) The parties involved;
    (2) The quantities, values, and countries of ultimate destination;
    (3) The dates the transactions occurred; and
    (4) Any taxes, fees, or other payments provided to the Government 
of Venezuela.
    (d) Reports described in paragraph (c) are due ten days after the 
execution of the first of such transactions and every 90 days 
thereafter while such transactions are ongoing.
    (e) Effective February 10, 2026, General License No. 46, dated 
January 29, 2026, is replaced and superseded in its entirety by this 
General License No. 46A.

    Note to General License No. 46A.  Nothing in this general 
license relieves any person from compliance with the requirements of 
other Federal agencies, including the Department of Commerce's 
Bureau of Industry and Security.



Bradley T. Smith,
Director, Office of Foreign Assets Control.

Dated: February 10, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 46B

Authorizing Certain Activities Involving Venezuelan-Origin Oil or 
Petrochemical Products

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by the Venezuela Sanctions Regulations, 31 
CFR part 591 (the VSR), including those involving the Government of 
Venezuela, Petr[oacute]leos de Venezuela, S.A. (PdVSA), or any entity 
in which PdVSA owns, directly or indirectly, a 50 percent or greater 
interest (collectively, ``PdVSA Entities''), that are ordinarily 
incident and necessary to the lifting, exportation, reexportation, 
sale, resale, supply, storage, marketing, purchase, delivery, or 
transportation of Venezuelan-origin oil, including the refining of such 
oil, or of Venezuelan-origin petrochemical products for importation 
into the United States, by an established U.S. entity are authorized, 
provided that:
    (1) Any contract for such transactions with the Government of 
Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United 
States or any jurisdiction within the United States govern the contract 
and that any dispute resolution under the contract occur in the United 
States; and
    (2) Any monetary payment to a blocked person, excluding payments 
for local taxes, permits, or fees, is made into the Foreign Government 
Deposit Funds, as specified in Executive Order 14373 of January 9, 
2026, or any other account as instructed by the U.S. Department of the 
Treasury.

    Note 1 to Paragraph (a).  For purposes of this general license, 
the term ``established U.S. entity'' means any entity organized 
under the laws of the United States or any jurisdiction within the 
United States on or before January 29, 2025.


    Note 2 to Paragraph (a).  Transactions authorized by paragraph 
(a) include arranging shipping and logistics services, including 
chartering vessels, obtaining marine insurance and protection and 
indemnity (P&I) coverage, and arranging port and terminal services, 
including with port authorities or terminal operators that are part 
of the Government of Venezuela. Paragraph (a) also authorizes 
commercially reasonable payments in the form of swaps of crude oil, 
diluents, or refined petroleum products.


    Note 3 to Paragraph (a).  For purposes of this general license, 
the term ``petrochemical products'' includes fertilizer products and 
fertilizer precursor chemicals, including the

[[Page 24721]]

chemicals listed in the Annex of this general license.

    (b) This general license does not authorize:
    (1) Payment terms that are not commercially reasonable, involve 
debt swaps or payments in gold, or are denominated in digital currency, 
digital coin, or digital tokens issued by, for, or on behalf of the 
Government of Venezuela, including the petro;
    (2) Any transaction involving a person located in or organized 
under the laws of the Russian Federation, the Islamic Republic of Iran, 
the Democratic People's Republic of Korea, the Republic of Cuba, or any 
entity that is owned or controlled, directly or indirectly, by or in a 
joint venture with such persons;
    (3) Any transaction involving an entity located in or organized 
under the laws of Venezuela or the United States that is owned or 
controlled, directly or indirectly, by or in a joint venture with a 
person located in or organized under the laws of the People's Republic 
of China;
    (4) The unblocking of any property blocked pursuant to the VSR; or
    (5) Any transaction involving a blocked vessel.
    (c) Any person that exports, reexports, sells, resells, or supplies 
Venezuelan-origin oil to countries other than the United States 
pursuant to this general license must provide a detailed report to 
<a href="/cdn-cgi/l/email-protection#7b281a15180f121415082412151914033b080f1a0f1e551c140d"><span class="__cf_email__" data-cfemail="d281b3bcb1a6bbbdbca18dbbbcb0bdaa92a1a6b3a6b7fcb5bda4">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#8ddbd7dfe8fde2fff9e4e3eacde9e2e8a3eae2fb"><span class="__cf_email__" data-cfemail="9bcdc1c9feebf4e9eff2f5fcdbfff4feb5fcf4ed">[email&#160;protected]</span></a> that identifies, for 
each of these transactions:
    (1) The parties involved;
    (2) The quantities, values, and countries of ultimate destination;
    (3) The dates the transactions occurred; and
    (4) Any taxes, fees, or other payments provided to the Government 
of Venezuela. (d) Reports described in paragraph (c) are due ten days 
after the execution of the first of such transactions and every 90 days 
thereafter while such transactions are ongoing.
    (e) Effective March 13, 2026, General License No. 46A, dated 
February 10, 2026, is replaced and superseded in its entirety by this 
General License No. 46B.

    Note to General License No. 46B.  Nothing in this general 
license relieves any person from compliance with the requirements of 
other Federal agencies, including the Department of Commerce's 
Bureau of Industry and Security.


Bradley T. Smith,
Director, Office of Foreign Assets Control.

Dated: March 13, 2026.

Annex to General License 46B

    Chemicals that fall within the scope of the term ``petrochemical 
products'' include the following:

------------------------------------------------------------------------
                      Chemical name                           HS code
------------------------------------------------------------------------
Sulfur..................................................      2503000010
Sulfur..................................................      2503000090
Phosphate Rock..........................................      2510100000
Phosphate Rock..........................................      2510200000
Sulfuric Acid...........................................      2807000000
Phosphoric Acid, fertilizer-grade, containing less than       2809200010
 65 percent available...................................
Phosphoric Acid, other..................................      2809200020
Anhydrous Ammonia.......................................      2814100000
Aqua Ammonia............................................      2814200000
Potassium Nitrate.......................................      2834210000
Calcium Nitrate.........................................      2834291000
Potassium Phosphate.....................................      2835240000
Dicalcium Phosphates....................................      2835250000
Other Phosphates of Calcium.............................      2835260000
Urea (Solid)............................................      3102100000
Urea (Solid)............................................      3102100010
Diesel Exhaust Fluid....................................      3102100030
Other Urea..............................................      3102100050
Ammonium Sulfate........................................      3102210000
Other Nitrogen Fert.....................................      3102290000
Ammonium Nitrate........................................      3102300000
Ammonia Nitrate.........................................      3102400000
Sodium Nitrate..........................................      3102500000
Other Nitrogen Fert.....................................      3102600000
Mixtures of urea and ammonium nitrate in aqueous or           3102800000
 ammoniacal solution....................................
Other Nitrogen Fert.....................................      3102900100
Concentrated Super......................................      3103110000
Normal Super............................................      3103190000
Other Phosphate Fert....................................      3103900100
Potassium Muriate.......................................      3104200000
Potassium Muriate <=62% Oxide...........................      3104200010
Potassium Muriate >62% Oxide............................      3104200050
Potassium Sulfate.......................................      3104300000
Other Potassium Fert....................................      3104900100
Chemical Mixtures.......................................      3105100000
Chemical Mixtures.......................................      3105200000
Diammonium Phosphate....................................      3105300000
Monoammonium Phosphate & Other..........................      3105400000
Monoammonium Phosphate & Other..........................      3105400010
Monoammonium Phosphate & Other..........................      3105400050
Chemical Mixtures.......................................      3105510000
Chemical Mixtures.......................................      3105590000
Chemical Mixtures.......................................      3105600000
Potassium Sodium Nitrate................................      3105900010
Other Mixtures..........................................      3105900050
------------------------------------------------------------------------



[[Page 24722]]

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2026-09092 Filed 5-6-26; 8:45 am]
BILLING CODE 4810-AL-P


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