In June 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control issued a series of new and amended Venezuela-related general licenses across multiple sectors.
The licenses cover areas including energy, financial services, and aviation, signalling OFAC’s continued recalibration of its Venezuela sanctions programme.
The agency has tightened restrictions in some areas while carving out narrow authorisation pathways for certain commercial and humanitarian activities.
On June 25, 2026, OFAC issued General License 60, permitting transactions otherwise prohibited by the Venezuela Sanctions Regulations that relate to earthquake relief efforts.
GL 60 authorises transactions involving the Government of Venezuela and Specially Designated Nationals sanctioned under Executive Orders incorporated into the Venezuela Sanctions Regulations.
The licence also permits the processing and transfer of funds in support of relief activities, including transactions involving third-country persons sending funds to or from Venezuela.
US financial institutions and money transmitters are permitted to “rely on the originator of a funds transfer with regard to compliance” provided there is no knowledge the transfer is noncompliant.
GL 60 does not authorise the unblocking of any property already blocked pursuant to the Venezuela Sanctions Regulations, representing a notable limitation on its scope.
The new licence supplements the preexisting General License No. 29, which authorises nongovernmental organisations to engage with the Government of Venezuela for humanitarian projects addressing basic human needs.
On July 17, 2026, OFAC published FAQ 1263, clarifying that payments made under GL 60, including taxes, tolls, and fees to the Government of Venezuela, do not require deposit into the Foreign Government Deposit Funds Account at the Treasury Department.
On June 18, 2026, OFAC issued General License 59, authorising the provision of goods, technology, software, and services relating to aircraft operated by Venezuela’s state-owned airline Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aéreos, known as Conviasa.
On June 10, 2026, OFAC amended seven Venezuela-related general licences, specifically GLs 46C, 47A, 48B, 50B, 51B, 52A, and 54A, to modify governing law and dispute resolution requirements.
Previously, these licences required that US law govern applicable contracts and that dispute resolution occur exclusively within the United States, a condition not seen in other US sanctions programmes.
The amended licences now require that contracts be “construed and interpreted in accordance with the laws of a state or other jurisdiction within the United States,” broadening acceptable dispute resolution venues.
Dispute resolution proceedings may now take place in the United Kingdom, France, or Singapore, in addition to the United States, reflecting a more internationally workable framework.
These developments are consistent with the US government’s stated commitment to expanding American investment and engagement within the Venezuelan economy over the longer term.
Companies with exposure to Venezuela are advised to review these general licences carefully to determine whether their operations fall within the new authorisations or remain prohibited.