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Rule2026-20008

Publication of Venezuela Sanctions Regulations Web General Licenses 52, 53, 54, 55, 56, 57, and 58

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 52, 53, 54, 55, 56, 57, and 58, 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 61771-61775]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-20008]


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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 52, 53, 54, 55, 56, 57, and 58

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 seven general licenses (GLs) issued 
pursuant to the Venezuela Sanctions Regulations: GLs 52, 53, 54, 55, 
56, 57, and 58, each of which was previously made available on OFAC's 
website.

DATES: GL 52 was issued on March 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 March 18, 2026, OFAC issued GL 52 to authorize certain 
transactions otherwise prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591 (VSR). On March 24, 2026, OFAC issued GL 
53, to authorize certain transactions otherwise prohibited by the VSR. 
On March 27, 2026, OFAC issued GLs 54 and 55, to authorize certain 
transactions otherwise prohibited by the VSR. On April 14, 2026, OFAC 
issued GLs 56 and 57, to authorize certain transactions otherwise 
prohibited by the VSR. On May 5, 2026, OFAC issued GL 58 to authorize 
certain transactions otherwise prohibited by the VSR. 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. 52

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 
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 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.

    (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 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

[[Page 61772]]

(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#d98ab8b7baadb0b6b7aa86b0b7bbb6a199aaadb8adbcf7beb6af"><span class="__cf_email__" data-cfemail="8fdceee1ecfbe6e0e1fcd0e6e1ede0f7cffcfbeefbeaa1e8e0f9">[email&#160;protected]</span></a> and 
<a href="/cdn-cgi/l/email-protection#8cdad6dee9fce3fef8e5e2ebcce8e3e9a2ebe3fa"><span class="__cf_email__" data-cfemail="2375797146534c51574a4d4463474c460d444c55">[email&#160;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.

    Note to General License No. 52.  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 18, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 53

Official Missions of the Government of Venezuela to the United States

    (a) All transactions prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591 (the VSR), that are related to the 
provision of goods or services in the United States to official 
missions of the Government of Venezuela to the United States or to 
permanent missions of the Government of Venezuela to international 
organizations in the United States (collectively, the ``missions''), 
and payment for such goods or services, are authorized, provided that:
    (1) The goods or services are for the conduct of the official 
business of the missions, or for personal use of the employees of the 
mission in the United States, or persons who share a common dwelling as 
a family member or dependent of such an employee, of the missions, and 
are not for resale;
    (2) The transaction does not involve the purchase, sale, financing, 
or refinancing of real property; and
    (3) The transaction is not otherwise prohibited by law.
    (b) The provision of goods or services in the United States to the 
employees, or persons who share a common dwelling as a family member or 
dependent of such an employee, of the missions, and payment for such 
goods or services, are authorized, provided that:
    (1) The goods or services are for personal use of the employees, or 
persons who share a common dwelling as a family member or dependent of 
such an employee, of the missions, and are not for resale; and
    (2) The transaction is not otherwise prohibited by law.
    (c) U.S. financial institutions, as defined by the VSR, are 
authorized to operate accounts for, extend credit to, and process funds 
transfers on behalf of the missions and employees thereof, subject to 
the limitations in paragraphs (a) and (b) of this general license.

Bradley T. Smith

Director, Office of Foreign Assets Control.

    Dated: March 24, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 54

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 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).  Transactions authorized by paragraph 
(a) include

[[Page 61773]]

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.

    (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; 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#1a497b74796e737574694573747875625a696e7b6e7f347d756c"><span class="__cf_email__" data-cfemail="dc8fbdb2bfa8b5b3b2af83b5b2beb3a49cafa8bda8b9f2bbb3aa">[email&#160;protected]</span></a> and 
<a href="/cdn-cgi/l/email-protection#0a656c6b695563647e6b616f4a6e6563246d657c"><span class="__cf_email__" data-cfemail="dbb4bdbab884b2b5afbab0be9bbfb4b2f5bcb4ad">[email&#160;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.

    Note to General License No. 54.  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.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 55

Authorizing Negotiations of and Entry Into Contingent Contracts for 
Certain Investment in Venezuela's Minerals Sector

    (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, that are related to the negotiation of and 
entry into contingent contracts for new investment in the minerals 
sector of Venezuela, including the gold sector of Venezuela, are 
authorized, provided that the performance of any such contract is made 
expressly contingent upon separate authorization from the Office of 
Foreign Assets Control (``contingent contracts'').

    Note 1 to Paragraph (a).  For purposes of this general license, 
the term ``contingent contracts'' includes executory contracts, 
executory pro forma invoices, agreements in principle, executory 
offers capable of acceptance such as bids or proposals in response 
to public tenders, binding memoranda of understanding, or any other 
similar agreement.


    Note 2 to Paragraph (a).  Paragraph (a) authorizes negotiating 
and entering into contingent contracts to engage in new exploration, 
development, mining, extraction, processing, refining, or production 
activities in Venezuela's minerals sector, to expand existing 
operations in Venezuela, and to form new joint ventures or other 
entities in Venezuela related to the foregoing activities. 
Transactions authorized by paragraph (a) also include prefatory 
steps for the aforementioned activities, such as conducting 
commercial, legal, technical, safety, and environmental due 
diligence and assessments.

    (b) This general license does not authorize:
    (1) 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;
    (2) The unblocking of any property blocked pursuant to the VSR; or
    (3) Any transaction involving a blocked vessel.

    Note to General License No. 55. 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.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 56

Authorizing Commercial-Related Negotiations of Contingent Contracts 
With the Government of Venezuela

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by Executive Order (E.O.) 13884 that are 
ordinarily incident and necessary to engaging in commercial-related 
negotiations of contingent contracts with the Government of Venezuela 
are authorized, provided that the entry into and performance of any 
such contract is made expressly contingent upon separate authorization 
from the Office of Foreign Assets Control (``contingent contracts'').

    Note 1 to paragraph (a). For purposes of this general license, 
the term ``Government of Venezuela'' has the meaning set forth in 
section 6(d) of E.O. 13884 and includes the state and Government of 
Venezuela, any political subdivision, agency, or instrumentality 
thereof, any person owned or controlled, directly or indirectly, by 
the foregoing, and any person who has acted or purported to act, 
directly or indirectly, for or on behalf of the foregoing.


    Note 2 to paragraph (a). For purposes of this general license, 
the term ``contingent contracts'' includes executory contracts, 
executory pro forma invoices, agreements in principle, executory 
offers capable of acceptance such as bids or proposals in response 
to public tenders, binding memoranda of understanding, or any other 
similar agreement.

    (b) This general license does not authorize:
    (1) Transactions otherwise prohibited by the Venezuela Sanctions 
Regulations, 31 CFR part 591 (VSR), such as transactions prohibited by 
E.O. 13808 related to bonds and certain other debt

[[Page 61774]]

of the Government of Venezuela or Petr[oacute]leos de Venezuela, S.A. 
(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 or any 
other entity in which the Government of Venezuela has a 50 percent or 
greater ownership interest;
    (2) 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;
    (3) 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 
blocked pursuant to the VSR;
    (4) Any transaction involving a person located in the Russian 
Federation, the Islamic Republic of Iran, the Democratic People's 
Republic of Korea, or the Republic of Cuba, or any entity that is owned 
or controlled by or in a joint venture with such persons;
    (5) 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;
    (6) 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), 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; or
    (7) The unblocking of any property blocked pursuant to 31 CFR 
Chapter V.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: April 14, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 57

Authorizing Financial Services Transactions Involving Certain 
Venezuelan Banks and Government of Venezuela Individuals

    (a) Except as provided in paragraph (c) of this general license, 
all transactions prohibited by the Venezuela Sanctions Regulations, 31 
CFR part 591 (VSR), that are ordinarily incident and necessary to the 
provision, exportation, or reexportation, directly or indirectly, of 
financial services to, from, or for the benefit of the following 
persons are authorized:
    (1) Banco Central de Venezuela;
    (2) Banco de Venezuela, S.A. Banco Universal (Banco de Venezuela);
    (3) Banco Digital de los Trabajadores Banco Universal C.A.;
    (4) Banco del Tesoro, C.A. Banco Universal (Banco del Tesoro);
    (5) Any entity in which one or more of the above persons own, 
directly or indirectly, individually or in the aggregate, a 50 percent 
or greater interest; or
    (6) Any individual whose property and interests in property are 
blocked solely pursuant to Executive Order (E.O.) 13884 because that 
individual meets the definition of ``Government of Venezuela,'' as 
defined in E.O. 13884, including current employees of the ``Government 
of Venezuela,'' excluding any individual identified on the Office of 
Foreign Assets Control's List of Specially Designated Nationals and 
Blocked Persons.
    (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 and that are necessary for the 
activities set forth in paragraph (a) of this general license are 
authorized.
    (c) This general license does not authorize:
    (1) The unblocking of any property blocked pursuant to any part of 
31 CFR chapter V; or
    (2) Any transactions otherwise prohibited by the VSR, unless 
separately authorized.

    Note 1 to General License 57. For purposes of this general 
license, the term ``financial services'' includes maintaining, 
operating, or closing of accounts; loans; transfers; transfers of 
funds; banking services; money transfer services; collection; 
presentment; promise; order; consignment; the acceptance of 
deposits; insurance; guarantees; cash withdrawals; check services; 
Automated Clearing House (ACH) transfers; wire transfers; debit 
card, prepaid card, Automated Teller Machine transactions, and any 
other payments as defined under the Uniform Commercial Code Article 
3-602; the issuance and use of payment cards and digital wallets; 
currency exchange; U.S. dollar-denominated banking, payment, and 
correspondent account services; services in connection with the 
collection, forwarding, processing, or receipt of funds or 
remittances; services in connection with the processing or receipt 
of salary, pension, annuity, payroll, and other employment-related 
payments or benefits; transfers of funds sent through mobile money, 
mobile wallets, digital bank accounts, credit cards, debit cards, 
online payments, or other digital technology; related safety, fraud-
prevention, screening, authentication, cybersecurity, and security 
services and technologies; investments; securities; and commodity 
futures or options.


    Note 2 to General License 57. U.S. financial institutions 
processing transactions authorized by paragraphs (a) or (b) of this 
general license may rely on the originator or beneficiary of a funds 
transfer with regard to compliance with this general license, 
provided that the processing financial institution does not know or 
have reason to know that the transaction is not in compliance with 
this general license.


    Note 3 to General License 57. Nothing in this general license 
relieves any person from compliance with the requirements of other 
U.S. laws, including the Bank Secrecy Act, 31 U.S.C. 5311 et seq., 
the USA PATRIOT Act, Public Law 107-56, and regulations promulgated 
by the U.S. Department of the Treasury's Financial Crimes 
Enforcement Network (FinCEN).

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: April 14, 2026.

OFFICE OF FOREIGN ASSETS CONTROL

Venezuela Sanctions Regulations

31 CFR Part 591

GENERAL LICENSE NO. 58

Authorizing Certain Services to the Government of Venezuela in 
Connection With Potential Debt Restructuring

    (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), that are ordinarily incident and necessary to 
the provision of legal, financial advisory, and consulting services to 
the Government of Venezuela, including Petr[oacute]leos de Venezuela, 
S.A. (PdVSA) and any entity in which PdVSA owns, directly or 
indirectly, a 50 percent or greater interest (collectively, ``PdVSA 
Entities''), in connection with potential

[[Page 61775]]

restructuring of debt of the Government of Venezuela, including debt of 
PdVSA and PdVSA Entities, are authorized.

    Note 1 to paragraph (a). For purposes of this general license, 
the term ``Government of Venezuela'' has the meaning set forth in 
section 6(d) of Executive Order 13884 and includes the state and 
Government of Venezuela, any political subdivision, agency, or 
instrumentality thereof, any person owned or controlled, directly or 
indirectly, by the foregoing, and any person who has acted or 
purported to act, directly or indirectly, for or on behalf of the 
foregoing.


    Note 2 to paragraph (a). Authorized legal, financial advisory, 
and consulting services in connection with potential debt 
restructuring include the assessment, development, or preparation of 
debt restructuring options, proposals, and related supporting 
materials.

    (b) This general license does not authorize:
    (1) The restructuring, transfer, or settlement of debt of the 
Government of Venezuela, including debt of PdVSA and PdVSA Entities, or 
direct negotiations between the Government of Venezuela, including 
PdVSA and PdVSA Entities, and creditors regarding such restructuring, 
transfer, or settlement;
    (2) Payment terms for services provided under this general license 
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;
    (3) 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 
blocked pursuant to the VSR;
    (4) Any transaction by a person located 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, or any 
entity that is owned or controlled by or in a joint venture with such 
persons;
    (5) 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; or
    (6) The unblocking of any property blocked pursuant to 31 CFR 
Chapter V.
    (c) Any person that provides legal, financial advisory, and 
consulting services pursuant to this general license shall furnish a 
copy of the signed contract for such services to 
<a href="/cdn-cgi/l/email-protection#affccec1ccdbc6c0c1dcf0c6c1cdc0d7efdcdbcedbca81c8c0d9"><span class="__cf_email__" data-cfemail="eab98b84899e83858499b58384888592aa999e8b9e8fc48d859c">[email&#160;protected]</span></a> and <a href="/cdn-cgi/l/email-protection#baece0e8dfcad5c8ced3d4ddfaded5df94ddd5cc"><span class="__cf_email__" data-cfemail="0c5a565e697c637e7865626b4c686369226b637a">[email&#160;protected]</span></a> within 10 business 
days of execution.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

    Dated: May 5, 2026.
Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2026-20008 Filed 9-29-26; 8:45 am]
BILLING CODE 4810-AL-P


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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.