Rule2026-18572
Publication of Venezuela Sanctions Regulations Web General Licenses 50A and 51A
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 11, 2026
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
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.
Full Text
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<title>Federal Register, Volume 91 Issue 175 (Friday, September 11, 2026)</title>
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[Federal Register Volume 91, Number 175 (Friday, September 11, 2026)]
[Rules and Regulations]
[Pages 57791-57793]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-18572]
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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 50A and 51A
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
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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.
DATES: GL 50A was issued on February 18, 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 February 18, 2026, OFAC issued GL 50A to authorize certain
transactions otherwise prohibited by the Venezuela Sanctions
Regulations, 31 CFR part 591 (VSR). GL 50A replaced and superseded GL
50. On March 27, 2026, OFAC issued GL 51A to authorize certain
transactions otherwise prohibited by VSR. GL 51A replaced and
superseded GL 51. 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. 50A
Authorizing Transactions Related to Oil or Gas Sector Operations in
Venezuela of Certain Entities
(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 related to oil or
gas sector operations in Venezuela of the entities listed in the Annex
to this general license and their subsidiaries 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
[[Page 57792]]
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)(2). Any payments of oil or gas taxes or
royalties to the Government of Venezuela, PdVSA, or any PdVSA Entity
must be paid into the Foreign Government Deposit Funds or any other
account as instructed by the U.S. Department of the Treasury.
(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 the Russian
Federation, the Islamic Republic of Iran, the Democratic People's
Republic of Korea, the Republic of Cuba, the People's Republic of
China, or any entity that is owned or controlled by or in a joint
venture with such persons;
(3) The unblocking of any property blocked pursuant to the VSR; or
(4) Any transaction involving a blocked vessel.
(c) Any person that engages in transactions pursuant to this
general license must provide a detailed report to
<a href="/cdn-cgi/l/email-protection#1447757a77607d7b7a674b7d7a767b6c5467607560713a737b62"><span class="__cf_email__" data-cfemail="9ac9fbf4f9eef3f5f4e9c5f3f4f8f5e2dae9eefbeeffb4fdf5ec">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#287e727a4d58475a5c41464f684c474d064f475e"><span class="__cf_email__" data-cfemail="6335393106130c11170a0d0423070c064d040c15">[email protected]</span></a> that identifies:
(1) The parties involved;
(2) A description of the transactions, including, as relevant, the
quantities, values, and dates of the transactions; and
(3) 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 18, 2026, General License No. 50, dated
February 13, 2026, is replaced and superseded in its entirety by this
General License No. 50A.
Note to General License No. 50A. 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 18, 2026.
Annex--Entities Described in Paragraph (a) of General License 50A
List of Entities Described in Paragraph (a) of General License 50A
as of February 18, 2026:
Entity
BP PLC
Chevron Corporation
Eni S.p.A.
[Eacute]tablissements Maurel & Prom SA
Repsol S.A.
Shell PLC
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 51A
Authorizing Certain Activities Involving Venezuelan-Origin Minerals,
Including Gold
(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, CVG Compania General de Mineria de Venezuela CA (Minerven),
or any entity in which Minerven owns, directly or indirectly, a 50
percent or greater interest (collectively, ``Minerven Entities''), that
are ordinarily incident and necessary to the exportation,
reexportation, sale, resale, supply, storage, purchase, delivery, or
transportation of Venezuelan-origin minerals, including gold, by an
established U.S. entity, are authorized, provided that:
(1) Any contract for such transactions with the Government of
Venezuela, Minerven, or Minerven 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 conducting commercial, legal, technical, safety, and
environmental due diligence and assessments ordinarily incident to
the activity authorized in paragraph (a). Transactions authorized by
paragraph (a) also include arranging shipping and logistics
services, including chartering vessels, arranging security services,
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.
Note 3 to Paragraph (a). Transactions authorized by paragraph
(a) include the processing or refining of such minerals, except as
provided by paragraph (b).
(b) This general license does not authorize:
(1) Payment terms that are not commercially reasonable, involve
debt swaps or in-kind payments, 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) Any transaction involving the processing or refining of
Venezuelan-origin minerals, including gold, in the Russian Federation,
the Islamic Republic of Iran, the Democratic People's Republic of
Korea, the Republic of Cuba, or the People's Republic of China;
(5) The unblocking of any property blocked pursuant to the VSR;
(6) Any transaction involving a blocked vessel; or
(7) Exploration, development, mining, extraction, processing,
refining, or production of minerals in Venezuela or the formation of
joint ventures or other entities in Venezuela to engage in the
foregoing activities.
[[Page 57793]]
(c) Any person that exports, reexports, sells, resells, purchases,
or supplies Venezuelan-origin minerals, including gold, pursuant to
this general license must provide a detailed report to
<a href="/cdn-cgi/l/email-protection#6d3e0c030e190402031e3204030f02152d1e190c1908430a021b"><span class="__cf_email__" data-cfemail="b7e4d6d9d4c3ded8d9c4e8ded9d5d8cff7c4c3d6c3d299d0d8c1">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#78171e191b2711160c19131d381c1711561f170e"><span class="__cf_email__" data-cfemail="e28d848381bd8b8c96838987a2868d8bcc858d94">[email protected]</span></a> that identifies, for
each of these transactions:
(1) The parties involved;
(2) Documentation demonstrating supply chain due diligence plans to
determine the chain of custody of the minerals;
(3) Quantities, descriptions, and purchase prices of the minerals;
(4) The dates the transactions occurred; and
(5) 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 30 days
thereafter while such transactions are ongoing.
(e) Effective March 27, 2026, General License No. 51, dated March
6, 2026, is replaced and superseded in its entirety by this General
License No. 51A.
Note to General License No. 51A. 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 27, 2026.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2026-18572 Filed 9-10-26; 8:45 am]
BILLING CODE P
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</html>Indexed from Federal Register on September 11, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.