OFAC issues Venezuela-related GLs 51D, 54C, 55A and updates FAQ 1247

OFAC amended three Venezuela-related general licenses under 31 CFR Part 591, effective September 2, 2026, extending their scope from Venezuela's minerals sector to its "coal or minerals sectors" and adding Carbones del Zulia S.A. ("Carbozulia") alongside CVG Compania General de Mineria de Venezuela CA ("Minerven") as a named entity, while leaving all other conditions unchanged. 1. General License 55 was replaced by 55A (originally issued March 27, 2026), continuing to authorize the negotiation of and entry into contingent contracts for new investment in Venezuela's minerals sector. 2. General License 54B was replaced by 54C (originally issued August 27, 2026), continuing to authorize the supply of goods, technology, software, and services for minerals operations, subject to a requirement that dispute resolution occur in the United States, United Kingdom, France, or Singapore, that payments to blocked persons be made into the Foreign Government Deposit Funds, and that transactions be reported within ten days of the first transaction and every 90 days thereafter. 3. General License 51C was replaced by 51D (originally issued August 27, 2026), continuing to authorize established U.S. entities to export, sell, purchase, store, or transport Venezuelan-origin minerals, including gold, subject to the same dispute-resolution and payment conditions along with due diligence reporting on supply-chain every 30 days.