Venezuela's New OFAC Licenses Target Trade Financing Revitalization

The United States Treasury's Office of Foreign Assets Control (OFAC) has issued General Licenses 56 and 57, which allow Venezuelan companies to negotiate contingent commercial agreements with the government and enable international financial institutions to conduct transactions with the Central Bank of Venezuela and public banks. Ana Briceño, vice‑president of the Banco Nacional de Crédito, said the licenses broaden the scope of action for financial institutions and will "strengthen financing for imports and exports" starting in 2026. PwC partner José Antonio Carreira highlighted that related licenses (46, 48, 49, 50) open a new scenario for the national energy sector by legally permitting contingent contracts and due‑diligence activities.

The measures come amid Venezuela's ongoing dual‑inflation environment, where both bolívar and dollar prices are rising, and a broader economic outlook that still shows modest growth according to regional bodies. Proponents view the licenses as a step toward reactivating foreign‑direct investment and easing the restrictive impact of long‑standing sanctions on trade and the energy industry.