OFAC issued Venezuela General License 52C

OFAC issued Venezuela General License 52C, effective September 14, 2026, superseding GL 52B (August 27, 2026) under the Venezuela Sanctions Regulations, 31 CFR part 591. The license continues to authorize established U.S. entities (organized in the U.S. on or before January 29, 2025) to engage in transactions otherwise prohibited by E.O. 13884 or E.O. 13850 involving PdVSA or PdVSA-majority-owned entities, conditioned on dispute resolution in the U.S., UK, France, or Singapore and on payments to blocked persons routing through the Foreign Government Deposit Funds under E.O. 14373. Related Government of Venezuela transactions necessary to effectuate this remain authorized on the same payment condition, and the standard exclusions carry over unchanged along with the 10-day/90-day reporting requirement to State and DOE for oil and petrochemical exports. Key change from 52B: 52C adds (i) a new authorization for blocked individuals to sign contracts and transaction documents solely in their official PdVSA capacity, and (ii) a new prohibition barring any transaction to alter the corporate governance of PDV Holding, Citgo Holding, or CITGO Petroleum. OFFAC is also issuing one amended Venezuela-related Frequently Asked Question 1245.