Rule2026-20006
Publication of Venezuela Sanctions Regulations Web General Licenses 46C, 47A, 48B, 50B, 51B, 52A, and 54A
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 30, 2026
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing seven general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 46C, 47A, 48B, 50B, 51B, 52A, and 54A, each of which was previously made available on OFAC's website.
Full Text
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<title>Federal Register, Volume 91 Issue 188 (Wednesday, September 30, 2026)</title>
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[Federal Register Volume 91, Number 188 (Wednesday, September 30, 2026)]
[Rules and Regulations]
[Pages 61775-61782]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-20006]
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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 46C, 47A, 48B, 50B, 51B, 52A, and 54A
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 seven general licenses (GLs) issued
pursuant to the Venezuela Sanctions Regulations: GLs 46C, 47A, 48B,
50B, 51B, 52A, and 54A, each of which was previously made available on
OFAC's website.
DATES: GL 46C was issued on June 10, 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 June 10, 2026, OFAC issued GLs 46C, 47A, 48B, 50B, 51B, 52A, and
54A to authorize certain transactions otherwise prohibited by the
Venezuela Sanctions Regulations (VSR), 31 CFR part 591. GL 46C replaced
and superseded GL 46B. GL 47A replaced and superseded GL 47. GL 48B
replaced and superseded GL 48A. GL 50B replaced and superseded GL 50A.
GL 51B replaced and superseded GL 51A. GL 52A replaced and superseded
GL 52. GL 54A replaced and superseded GL 54. 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. 46C
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 shall require that (i) the terms of
the contract be construed and interpreted in accordance with the laws
of a state or other jurisdiction within the United States and (ii)
dispute resolution proceedings relating to the contract occur in the
United States, the United Kingdom, France, or Singapore; 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
[[Page 61776]]
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 chemicals listed in
the Annex of this general license.
Note 4 to Paragraph (a). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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#4013212e2334292f2e331f292e222f380033342134256e272f36"><span class="__cf_email__" data-cfemail="e4b7858a87908d8b8a97bb8d8a868b9ca49790859081ca838b92">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#a6f0fcf4c3d6c9d4d2cfc8c1e6c2c9c388c1c9d0"><span class="__cf_email__" data-cfemail="5e08040c3b2e312c2a3730391e3a313b70393128">[email 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 June 10, 2026, General License No. 46B, dated March
13, 2026, is replaced and superseded in its entirety by this General
License No. 46C.
Note to General License No. 46C. 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: June 10, 2026.
Annex to General License 46C
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 65 2809200010
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
[[Page 61777]]
Monoammonium Phosphate & Other............................. 3105400050
Chemical Mixtures.......................................... 3105510000
Chemical Mixtures.......................................... 3105590000
Chemical Mixtures.......................................... 3105600000
Potassium Sodium Nitrate................................... 3105900010
Other Mixtures............................................. 3105900050
------------------------------------------------------------------------
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 47A
Authorizing the Sale of U.S.-Origin Diluents to Venezuela
(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 exportation, reexportation, sale, resale,
supply, storage, marketing, delivery, or transportation of U.S.-origin
diluents to Venezuela are authorized, provided that any contract for
such transactions with the Government of Venezuela, PdVSA, or PdVSA
Entities shall require that (i) the terms of the contract be construed
and interpreted in accordance with the laws of a state or other
jurisdiction within the United States and (ii) dispute resolution
proceedings relating to the contract occur in the United States, the
United Kingdom, France, or Singapore.
Note 1 to Paragraph (a). Transactions authorized by paragraph
(a) include processing of payments, 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.
Note 2 to Paragraph (a). The requirement in paragraph (a)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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 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) The unblocking of any property blocked pursuant to the VSR,
except as provided in paragraph (a); or
(4) Any transaction involving a blocked vessel.
(c) Any person that exports, reexports, sells, resells, or supplies
U.S.-origin diluents to Venezuela pursuant to this general license must
provide a detailed report to <a href="/cdn-cgi/l/email-protection#4211232c21362b2d2c311d2b2c202d3a0231362336276c252d34"><span class="__cf_email__" data-cfemail="4714262924332e282934182e2925283f07343326332269202831">[email protected]</span></a> and
<a href="/cdn-cgi/l/email-protection#2274787047524d50564b4c4562464d470c454d54"><span class="__cf_email__" data-cfemail="2274787047524d50564b4c4562464d470c454d54">[email protected]</span></a> that identifies, for each of these transactions:
(1) The parties involved;
(2) The quantities and values; and
(3) The dates the transactions occurred.
(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 June 10, 2026, General License No. 47, dated February
3, 2026, is replaced and superseded in its entirety by this General
License No. 47A.
Note to General License No. 47A. 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: June 10, 2026.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 48B
Authorizing the Supply of Certain Items and Services to Venezuela
(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 provision from the United States or by a
U.S. person of goods, technology, software, or services for the
exploration, development, or production of oil, gas, or petrochemical
products in Venezuela, or for the generation, transmission, storage, or
distribution of electricity in Venezuela, are authorized, provided
that:
(1) Any contract for such transactions with the Government of
Venezuela, PdVSA, or PdVSA Entities shall require that (i) the terms of
the contract be construed and interpreted in accordance with the laws
of a state or other jurisdiction within the United States and (ii)
dispute resolution proceedings relating to the contract occur in the
United States, the United Kingdom, France, or Singapore; 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). Transactions authorized by paragraph
(a) include processing of payments, 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 transactions for the maintenance of oil, gas,
petrochemical products, or electricity
[[Page 61778]]
operations in Venezuela, including the refurbishment or repair of
items used for oil, gas, or petrochemical products exploration,
development, or production activities, or for electricity
generation, transmission, storage, or distribution.
Note 2 to Paragraph (a). See Venezuela General License No. 30B
for an authorization for transactions ordinarily incident and
necessary to operations or use of ports and airports in Venezuela.
Note 3 to Paragraph (a). For purposes of this general license,
the term ``petrochemical products'' includes fertilizer products and
fertilizer precursor chemicals, including the chemicals listed in
the Annex of this general license.
Note 4 to Paragraph (a). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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, the
People's Republic of China, or any entity that is owned or controlled,
directly or indirectly, by or in a joint venture with such persons;
(3) The unblocking of any property blocked pursuant to the VSR;
(4) Any transaction involving a blocked vessel;
(5) The formation of new joint ventures or other entities in
Venezuela to explore or produce oil, gas, or petrochemical products or
to generate, transmit, store, or distribute electricity; or
(6) Any transactions or dealings related to the exportation or
reexportation of diluents, directly or indirectly, to Venezuela.
(c) Any person that exports, reexports, sells, resells, or supplies
goods, technology, software, or services pursuant to this general
license must provide a detailed report to <a href="/cdn-cgi/l/email-protection#aefdcfc0cddac7c1c0ddf1c7c0ccc1d6eedddacfdacb80c9c1d8"><span class="__cf_email__" data-cfemail="5201333c31263b3d3c210d3b3c303d2a1221263326377c353d24">[email protected]</span></a> and
<a href="/cdn-cgi/l/email-protection#d5838f87b0a5baa7a1bcbbb295b1bab0fbb2baa3"><span class="__cf_email__" data-cfemail="6f39353d0a1f001d1b0601082f0b000a41080019">[email protected]</span></a> that identifies, for each of these transactions:
(1) The parties involved;
(2) The goods, technology, software, or services involved,
including quantities and values;
(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 June 10, 2026, General License No. 48A, dated March
13, 2026, is replaced and superseded in its entirety by this General
License No. 48B.
Note to General License No. 48B. 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: June 10, 2026.
Annex to General License 48B
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 65 2809200010
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
[[Page 61779]]
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
------------------------------------------------------------------------
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 50B
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 shall require that (i) the terms of
the contract be construed and interpreted in accordance with the laws
of a state or other jurisdiction within the United States and (ii)
dispute resolution proceedings relating to the contract occur in the
United States, the United Kingdom, France, or Singapore; 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.
Note 2 to Paragraph (a). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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#c89ba9a6abbca1a7a6bb97a1a6aaa7b088bbbca9bcade6afa7be"><span class="__cf_email__" data-cfemail="6e3d0f000d1a0701001d3107000c01162e1d1a0f1a0b40090118">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#782e222a1d08170a0c11161f381c171d561f170e"><span class="__cf_email__" data-cfemail="bee8e4ecdbced1cccad7d0d9fedad1db90d9d1c8">[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 June 10, 2026, General License No. 50A, dated
February 18, 2026, is replaced and superseded in its entirety by this
General License No. 50B.
Note to General License No. 50B. 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: June 10, 2026.
Annex--Entities Described in Paragraph (a) of General License 50B
List of Entities Described in Paragraph (a) of General License
50B as of June 10, 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. 51B
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 shall require that (i) the
terms of the contract be construed and interpreted in accordance with
the laws of a state or other jurisdiction within the United States and
(ii) dispute resolution proceedings relating to the contract
[[Page 61780]]
occur in the United States, the United Kingdom, France, or Singapore;
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).
Note 4 to Paragraph (a). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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.
(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#d083b1beb3a4b9bfbea38fb9beb2bfa890a3a4b1a4b5feb7bfa6"><span class="__cf_email__" data-cfemail="1e4d7f707d6a7771706d4177707c71665e6d6a7f6a7b30797168">[email protected]</span></a> and <a href="/cdn-cgi/l/email-protection#f9969f989aa690978d98929cb99d9690d79e968f"><span class="__cf_email__" data-cfemail="036c6562605c6a6d7762686643676c6a2d646c75">[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 June 10, 2026, General License No. 51A, dated March
27, 2026, is replaced and superseded in its entirety by this General
License No. 51B.
Note to General License No. 51B. 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: June 10, 2026.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 52A
Authorizing Certain Transactions Involving Petr[oacute]leos de
Venezuela, S.A.
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 13884 or E.O.
13850 involving 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''), by an established
U.S. entity are authorized, provided that:
(1) Any contract for such transactions with PdVSA or PdVSA Entities
shall require that (i) the terms of the contract be construed and
interpreted in accordance with the laws of a state or other
jurisdiction within the United States and (ii) dispute resolution
proceedings relating to the contract occur in the United States, the
United Kingdom, France, or Singapore; 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 E.O. 14373 of January 9, 2026 (``Foreign
Government Deposit Funds''), 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). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(b) Except as provided in paragraph (c) of this general license,
all transactions involving the Government of Venezuela that would
otherwise be prohibited by E.O. 13884 that are necessary for the
activities set forth in paragraph (a) of this general license are
authorized, provided that any monetary payment to a blocked person,
excluding payments for local taxes, permits, or fees, is made into the
Foreign Government Deposit Funds, or any
[[Page 61781]]
other account as instructed by the U.S. Department of the Treasury.
(c) This general license does not authorize:
(1) Transactions otherwise prohibited by the Venezuela Sanctions
Regulations (VSR), 31 CFR part 591, such as transactions prohibited by
E.O. 13808 related to bonds and certain other debt of the Government of
Venezuela or PdVSA, including transactions to settle such bonds and
debt, as well as transactions prohibited by E.O. 13835, including
transactions related to the sale, transfer, assignment or pledging as
collateral by the Government of Venezuela of any equity interest in
PdVSA, PdVSA Entities, or any other entity in which the Government of
Venezuela has a 50 percent or greater ownership interest;
(2) The entry into a settlement agreement or the enforcement of any
lien, judgment, arbitral award, decree, or other order through
execution, garnishment, or other judicial process purporting to
transfer or otherwise alter or affect property or interests in property
of any person blocked pursuant to the VSR, including PdVSA or a PdVSA
Entity;
(3) Any transaction involving any individual or entity identified
on the Office of Foreign Assets Control's List of Specially Designated
Nationals and Blocked Persons (SDN List), excluding PdVSA, as well as
any entity in which one or more of such persons identified on the SDN
List own, directly or indirectly, individually or in the aggregate, a
50 percent or greater interest, excluding PdVSA Entities;
(4) 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;
(5) 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;
(6) 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;
(7) The unblocking of any property blocked pursuant to the VSR; or
(8) Any transaction involving a blocked vessel.
(d) Any person that exports, reexports, sells, resells, or supplies
Venezuelan-origin oil or Venezuelan-origin petrochemical products 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#bae9dbd4d9ced3d5d4c9e5d3d4d8d5c2fac9cedbcedf94ddd5cc"><span class="__cf_email__" data-cfemail="a3f0c2cdc0d7cacccdd0fccacdc1ccdbe3d0d7c2d7c68dc4ccd5">[email protected]</span></a> and
<a href="/cdn-cgi/l/email-protection#abfdf1f9cedbc4d9dfc2c5ccebcfc4ce85ccc4dd"><span class="__cf_email__" data-cfemail="24727e7641544b56504d4a4364404b410a434b52">[email protected]</span></a> that identifies, for each of these transactions:
(1) The parties involved;
(2) A description of the transactions, including the products,
quantities, values, dates of the transactions, and countries of
ultimate destination; and
(3) Any taxes, fees, or other payments provided to the Government
of Venezuela.
(e) Reports described in paragraph (d) are due ten days after the
execution of the first of such transactions and every 90 days
thereafter while such transactions are ongoing.
(f) Effective June 10, 2026, General License No. 52, dated March
18, 2026, is replaced and superseded in its entirety by this General
License No. 52A.
Note to General License No. 52A. 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: June 10, 2026.
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR Part 591
GENERAL LICENSE NO. 54A
Authorizing the Supply of Certain Items and Services for Minerals
Operations in Venezuela
(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 provision from the United
States or by a U.S. person of goods, technology, software, or services
for the exploration, development, mining, extraction, processing,
refining, or production of minerals, including gold, in Venezuela are
authorized, provided that:
(1) Any contract for such transactions with the Government of
Venezuela, Minerven, or Minerven Entities shall require that (i) the
terms of the contract be construed and interpreted in accordance with
the laws of a state or other jurisdiction within the United States and
(ii) dispute resolution proceedings relating to the contract occur in
the United States, the United Kingdom, France, or Singapore; 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). Transactions authorized by paragraph
(a) include processing of payments, 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 transactions for the maintenance of minerals
operations, including gold operations, in Venezuela, including the
refurbishment or repair of items used for minerals exploration,
development, mining, extraction, processing, refining, or production
activities.
Note 2 to Paragraph (a). See Venezuela General License No. 30B
for an authorization for transactions ordinarily incident and
necessary to operations or use of ports and airports in Venezuela.
Note 3 to Paragraph (a). The requirement in paragraph (a)(1)(i)
permits the inclusion of contract terms that recognize that certain
aspects of the underlying activity in Venezuela may be subject to
applicable Venezuelan law and regulations, including laws and
regulations governing the exercise of Venezuela's sovereign
regulatory authority, administrative permits and licenses,
concessions, labor, environmental, health and safety, and other
mandatory regulatory requirements.
(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, the
People's Republic of China, or any entity that is owned or controlled,
directly or indirectly, by or in a joint venture with such persons;
[[Page 61782]]
(3) The unblocking of any property blocked pursuant to the VSR;
(4) Any transaction involving a blocked vessel; or
(5) The formation of new joint ventures or other entities in
Venezuela to explore, develop, mine, extract, process, refine, or
produce minerals, including gold.
(c) Any person that exports, reexports, sells, resells, or supplies
goods, technology, software, or services pursuant to this general
license must provide a detailed report to <a href="/cdn-cgi/l/email-protection#a3f0c2cdc0d7cacccdd0fccacdc1ccdbe3d0d7c2d7c68dc4ccd5"><span class="__cf_email__" data-cfemail="5407353a37203d3b3a270b3d3a363b2c1427203520317a333b22">[email protected]</span></a> and
<a href="/cdn-cgi/l/email-protection#adc2cbcccef2c4c3d9ccc6c8edc9c2c483cac2db"><span class="__cf_email__" data-cfemail="85eae3e4e6daecebf1e4eee0c5e1eaecabe2eaf3">[email protected]</span></a> that identifies, for each of these transactions:
(1) The parties involved;
(2) The goods, technology, software, or services involved,
including quantities and values;
(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 June 10, 2026, General License No. 54, dated March
27, 2026, is replaced and superseded in its entirety by this General
License No. 54A.
Note to General License No. 54A. 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: June 10, 2026.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2026-20006 Filed 9-29-26; 8:45 am]
BILLING CODE 4810-AL-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on September 30, 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.