OFAC issued Venezuela-related GLs 61 and 62

OFAC issued Venezuela-related General License 61 authorizing the U.S. supply of goods, technology, software, or services for the installation, maintenance, repair, upgrade, or support of telecommunications in Venezuela, including contracts with the Government of Venezuela, CONATEL, and CANTV, provided such contracts specify U.S. governing law and dispute resolution in the U.S., UK, France, or Singapore. The license excludes debt swaps, gold or digital-currency payment terms, transactions involving Russia, Iran, North Korea, Cuba, or China, blocked vessels, and new joint ventures, and requires periodic transaction reporting to the State Department. Additionally, OFAC issued Venezuela-related General License 62 under the Venezuela Sanctions Regulations, authorizing the negotiation of and entry into contingent contracts for new investment in Venezuela's telecommunications sector, including with the Government of Venezuela, CONATEL, and CANTV, provided performance remains contingent on separate OFAC authorization. The license excludes any transaction involving persons in Russia, Iran, North Korea, Cuba, or China, and does not authorize unblocking of property. Additionally, OFAC issued one new Venezuela-related Frequently Asked Question (FAQ 1266).