Venezuela Sanctions Regulations: New General Licenses Published

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued two new general licenses related to the Venezuela Sanctions Regulations. These licenses are GLs 30B and 51, and they were previously available on OFAC’s website.

General License 30B

GL 30B was issued on February 10, 2026. It allows certain transactions with the Government of Venezuela that are related to the operations or use of ports and airports in Venezuela. This includes activities that are normally necessary to run these facilities. The license replaces GL 30A. It also allows transactions with INEA, a Venezuelan entity, as long as these activities are necessary for the operations of ports and airports. However, GL 30B does not allow transactions with any blocked person other than INEA.

General License 51

GL 51 was issued on March 6, 2026. It permits transactions involving Venezuelan-origin gold. This includes activities like exporting, importing, and refining the gold in the United States. However, the license has conditions. Contracts must specify that U.S. laws govern disputes, and payments to blocked persons must be paid into the Foreign Government Deposit Funds.

GL 51 also allows certain logistics activities, like arranging for shipping and security, as long as they are necessary for gold transactions. However, the license does not allow some types of payments or transactions with certain countries, like Russia and Iran. It also does not allow mining or refining gold in Venezuela.

Reporting Requirements

For those who use GL 51, there are strict reporting requirements. They must report details of transactions, including who is involved, what is being traded, and the prices. These reports are due ten days after the first transaction and every 30 days after while transactions continue.

Compliance Notices

Both licenses remind exporters and other parties to comply with any requirements from other federal agencies, such as the Department of Commerce’s Bureau of Industry and Security.

Bradley T. Smith, who is the Director of the Office of Foreign Assets Control, signed off on these licenses in February and March 2026.

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