meta_id 3012640

On March 27, 2026, the Office of Foreign Assets Control (OFAC), a division of the U.S. Department of the Treasury, issued three new Venezuela-related general licenses authorizing specific activities related to Venezuelan minerals and investment. The three licenses are: Venezuela-related General License 51A, which authorizes certain activities involving Venezuelan-origin minerals, including gold; Venezuela-related General License 54, which authorizes the supply of certain items and services for minerals operations in Venezuela; and Venezuela-related General License 55, which authorizes negotiations of and entry into contingent contracts for certain investment in Venezuela's minerals sector. These general licenses permit specified parties to engage in otherwise prohibited transactions under the Venezuela sanctions programme. The licenses represent a targeted approach to sanctions administration, allowing defined economic activities to proceed while maintaining broader restrictions on Venezuela-related transactions. General licenses issued by OFAC provide authorisation for transactions that would otherwise violate sanctions regulations, enabling regulated entities and individuals to conduct specified business activities without requiring individual licence applications. Entities and individuals engaged in minerals operations, investment activities, or the supply of goods and services to Venezuela's minerals sector should review the specific terms and conditions of each general license to determine applicability to their operations. The licenses are effective upon issuance and supersede any previous authorisations for these activities. REFERENCES: Office of Foreign Assets Control, U.S. Department of the Treasury. "Issuance of New and Amended Venezuela-related General Licenses." March 27, 2026. https://ofac.treasury.gov/