[REVISION HISTORY]

U.S. expands and refines sanctions relief for Venezuela

Updated 13 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-30 04:35 UTC → 2026-09-30 08:56 UTC · added ~~removed~~

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has expanded and refined its sanctions relief for Venezuela, covering the telecommunications, energy, and mining sectors. Following initial measures for telecommunications infrastructure, OFAC modified eight general licenses to ease restrictions on the oil, gas, petrochemical, and mining industries. In the energy sector, U.S. entities may engage in the extraction, export, and transport of Venezuelan crude and petrochemical products for import into the United States, provided they partner with PDVSA or its affiliates. These licenses also permit the supply of technology and services for energy production and the sale of U.S.-origin diluents, subject to specific international dispute resolution requirements. In September 2026, OFAC issued updated versions of mining sector licenses (51D, 54C, and 55A) to replace previous iterations. General License 51D permits the export, sale, transport, and refining of Venezuelan coal and minerals, such as gold, requiring 30-day reporting. General License 54C allows for the provision of necessary goods, technology, and services, while General License 55A permits the negotiation of preliminary agreements for new investments. Further updates in late September 2026 introduced General Licenses 46E, 48D, and 49B to provide clearer guidelines for companies in the energy and infrastructure sectors. License 46E permits the extraction, sale, transport, and refining of Venezuelan-origin oil and petrochemicals, specifically adding methanol and allowing crude oil swaps. License 48D authorizes the supply of goods, technology, and software to support oil, gas, petrochemical, and electricity sector operations, though it strictly prohibits the export of diluents to Venezuela and the formation of new joint ventures. License 49B allows for the negotiation and signing of contingent contracts for new investments. These measures prohibit transactions involving entities from Cuba, Russia, Iran, or North Korea and mandate specific jurisdictions for legal disputes involving the Venezuelan state or PDVSA.

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