US issues general licences for Venezuela Government contracts and bank transactions

15 April 2026

The US has issued 2 general licences under its Venezuela Sanctions Regulations (31 CFR § 591).

• GL 56 authorises commercial-related negotiations of contingent contracts with the Venezuelan Government. Contracts may include executory contracts, agreements in principle, executory offers capable of acceptance such as bids or proposals in response to public tenders. Such contracts must be expressly contingent on OFAC approval.

• GL 57 authorises financial services transactions with four Venezuelan banks. They are Banco Central de Venezuela, Banco de Venezuela, S.A. Banco Universal, Banco Digital de los Trabajadores Banco Universal C.A, and Banco del Tesoro, C.A. Banco Universal.

OFAC has also issued FAQ 1248, which explains that parties engaged in primary activities authorised by US-Venezuela GLs are responsible for complying with the applicable reporting requirements. Parties that are only indirectly involved or providing services ancillary to the primary authorised activity are not required to file reports pursuant to the applicable licence.

See our US Licences and US-Venezuela pages for all Venezuela-related GLs.