New General Licenses Issued for Venezuela Sanctions Regulations
Estimated reading time: 3–5 minutes
Dates of the Licenses
GL 5U was issued on February 2, 2026. This license replaced an older license, GL 5T. Then, on March 19, 2026, OFAC issued GL 5V. This new license, GL 5V, replaced GL 5U. Both licenses are available on the OFAC website.
Purpose of the Licenses
The licenses allow certain dealings with the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond. These dealings were restricted by an executive order in 2018, which became part of the Venezuela Sanctions Regulations.
License GL 5U Details
Starting from March 20, 2026, GL 5U allows all transactions, financing, and other dealings with the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond. It replaces GL 5T completely. However, it does not allow actions that are prohibited by other parts of the Venezuela Sanctions Regulations.
License GL 5V Details
Effective from May 5, 2026, GL 5V authorizes similar transactions as GL 5U. It also involves the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond. Like GL 5U, it does not permit activities otherwise banned by the Venezuela Sanctions Regulations.
People looking for more information or needing assistance can contact the OFAC office directly. Full details can also be accessed on OFAC’s website.
Source
This information is from the Federal Register, Volume 91 Issue 111 (Wednesday, June 10, 2026). For more official details, visit the OFAC website.
Legal Disclaimer
This article includes content collected from the Federal Register (federalregister.gov). The content is not an official government publication. This article is for informational purposes only and does not constitute legal advice. For case-specific consultation, please contact us. Read our full Legal Disclaimer, which also includes information on translation accuracy.
