Publication of Venezuela Sanctions Regulations Web General Licenses 47, 48, 49, and 50

24716 Federal Register / Vol. 91, No. 88 / Thursday, May 7, 2026 / Rules and Regulations nuclear energy’’ means transactions undertaken solely to maintain or support civil nuclear projects initiated before November 21, 2024. (c) This general license does not authorize: (1) The opening or maintaining of a correspondent account or payable￾through account for or on behalf of any entity subject to Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or Payable-Through Accounts and Processing of Transactions Involving Certain Foreign Financial Institutions; (2) Any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance; or (3) Any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR other than the blocked persons described in paragraph (a) of this general license, unless separately authorized. (d) Effective December 17, 2025, General License No. 115B, dated June 27, 2025, is replaced and superseded in its entirety by this General License No. 115C. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: December 17, 2025. OFFICE OF FOREIGN ASSETS CONTROL Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 587 GENERAL LICENSE NO. 13P Authorizing Certain Administrative Transactions Prohibited by Directive 4 Under Executive Order 14024 (a) Except as provided in paragraph (b) of this general license, U.S. persons, or entities owned or controlled, directly or indirectly, by a U.S. person, are authorized to pay taxes, fees, or import duties, and purchase or receive permits, licenses, registrations, certifications, or tax refunds to the extent such transactions are prohibited by Directive 4 under Executive Order 14024, Prohibitions Related to Transactions Involving the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, and the Ministry of Finance of the Russian Federation, provided such transactions are ordinarily incident and necessary to the day-to-day operations in the Russian Federation of such U.S. persons or entities, through 12:01 a.m. eastern daylight time, April 9, 2026. (b) This general license does not authorize: (1) Any debit to an account on the books of a U.S. financial institution of the Central Bank of the Russian Federation, the National Wealth Fund of the Russian Federation, or the Ministry of Finance of the Russian Federation; or (2) Any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR, unless separately authorized. (c) Effective January 6, 2026, General License No. 13O, dated September 29, 2025, is replaced and superseded in its entirety by this General License No. 13P. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: January 6, 2026. OFFICE OF FOREIGN ASSETS CONTROL Russian Harmful Foreign Activities Sanctions Regulations 31 CFR Part 587 GENERAL LICENSE NO. 131C Authorizing Certain Transactions for the Negotiation of and Entry Into Contingent Contracts for the Sale of Lukoil International GmbH and Related Maintenance Activities (a) Except as provided in paragraph (d) of this general license, all transactions prohibited by Executive Order (E.O.) 14024 that are ordinarily incident and necessary to the negotiation of and entry into contracts with Public Joint-Stock Company Oil Company Lukoil or any of its affiliates for the sale, disposition, or transfer of Lukoil International GmbH (‘‘LIG’’) or any entity in which LIG owns, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest (collectively, ‘‘LIG Entities’’) are authorized through 12:01 a.m. eastern daylight time, April 1, 2026, provided that the performance of any such contract is made expressly contingent upon the receipt of separate authorization from the Office of Foreign Assets Control (‘‘contingent contracts’’). Note to Paragraph (a). For purposes of this general license, the term ‘‘contingent contracts’’ includes executory contracts, executory pro forma invoices, agreements in principle, executory offers capable of acceptance such as bids or proposals in response to public tenders, binding memoranda of understanding, or any other similar agreement. (b) Except as provided in paragraph (d) of this general license, all transactions prohibited by E.O. 14024 that are ordinarily incident and necessary to the maintenance or wind down of operations, contracts, or other agreements of LIG Entities are authorized through 12:01 a.m. eastern daylight time, April 1, 2026. (c) All blocked accounts of LIG Entities may be used, debited, or credited for the transactions authorized in paragraph (b). (d) This general license does not authorize: (1) The unblocking of any property blocked pursuant to any part of 31 CFR chapter V, except as authorized in paragraph (c); (2) Any transactions otherwise prohibited by the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR), including transactions involving any person blocked pursuant to the RuHSR, other than blocked persons described in paragraph (a) of this general license, unless separately authorized; or (3) The transfer of funds to any person or account located in the Russian Federation. (e) Effective February 26, 2026, General License No. 131B, dated January 14, 2026, is replaced and superseded in its entirety by this General License No. 131C. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: February 26, 2026. Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2026–09088 Filed 5–6–26; 8:45 am] BILLING CODE P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 47, 48, 49, and 50 AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Publication of web general licenses. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing four general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 47, 48, 49, and 50, which were previously made available on OFAC’s website. VerDate Sep<11>2014 15:59 May 06, 2026 Jkt 268001 PO 00000 Frm 00012 Fmt 4700 Sfmt 4700 E:\FR\FM\07MYR1.SGM 07MYR1 khammond on DSK9W7S144PROD with RULES

Federal Register / Vol. 91, No. 88 / Thursday, May 7, 2026 / Rules and Regulations 24717 DATES: GL 47 was issued on February 3, 2026. See SUPPLEMENTARY INFORMATION for additional relevant dates. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Regulatory Affairs, 202–622–4855; or https:// ofac.treasury.gov/contact-ofac. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov/. Background On February 3, 2026, OFAC issued GL 47 to authorize certain transactions otherwise prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (VSR). On February 10, 2026, OFAC issued GL 48, to authorize certain transactions otherwise prohibited by the VSR. On February 13, 2026, OFAC issued GLs 49 and 50 to authorize certain transactions otherwise prohibited by the VSR. GLs 48, 49 and 50 have been superseded. These GLs were made available on OFAC’s website (https://ofac.treasury.gov) when they were issued. The text of these GLs is provided below. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 47 Authorizing the Sale of U.S.-Origin Diluents to Venezuela (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petro´leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, ‘‘PdVSA Entities’’), that are ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, marketing, delivery, or transportation of U.S.-origin diluents to Venezuela are authorized, provided that any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United States or any jurisdiction within the United States govern the contract and that any dispute resolution under the contract occur in the United States. Note 1 to Paragraph (a). Transactions authorized by paragraph (a) include processing of payments, arranging shipping and logistics services, including chartering vessels, obtaining marine insurance and protection and indemnity (P&I) coverage, and arranging port and terminal services, including with port authorities or terminal operators that are part of the Government of Venezuela. (b) This general license does not authorize: (1) Payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro; (2) Any transaction involving a person located in or organized under the laws of the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, or any entity that is owned or controlled, directly or indirectly, by or in a joint venture with such persons; (3) The unblocking of any property blocked pursuant to the VSR, except as provided in paragraph (a); or (4) Any transaction involving a blocked vessel. (c) Any person that exports, reexports, sells, resells, or supplies U.S.-origin diluents to Venezuela pursuant to this general license must provide a detailed report to Sanctions_inbox@state.gov and VZReporting@doe.gov that identifies, for each of these transactions: (1) The parties involved; (2) The quantities and values; and (3) The dates the transactions occurred. (d) Reports described in paragraph (c) are due ten days after the execution of the first of such transactions and every 90 days thereafter while such transactions are ongoing. Note to General License No. 47. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: February 3, 2026. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 48 Authorizing the Supply of Certain Items and Services to Venezuela (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petro´leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, ‘‘PdVSA Entities’’), that are ordinarily incident and necessary to the provision from the United States or by a U.S. person of goods, technology, software, or services for the exploration, development, or production of oil or gas in Venezuela are authorized, provided that: (1) Any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United States or any jurisdiction within the United States govern the contract and that any dispute resolution under the contract occur in the United States; and (2) Any monetary payment to a blocked person, excluding payments for local taxes, permits, or fees, is made into the Foreign Government Deposit Funds, as specified in Executive Order 14373 of January 9, 2026, or any other account as instructed by the U.S. Department of the Treasury. Note 1 to Paragraph (a). Transactions authorized by paragraph (a) include processing of payments, arranging shipping and logistics services, including chartering vessels, obtaining marine insurance and protection and indemnity (P&I) coverage, and arranging port and terminal services, including with port authorities or terminal operators that are part of the Government of Venezuela. Paragraph (a) also authorizes transactions for the maintenance of oil or gas operations in Venezuela, including the refurbishment or repair of items used for oil or gas exploration, development, or production activities. Note 2 to Paragraph (a). See Venezuela General License No. 30B for an authorization for transactions ordinarily incident and necessary to operations or use of ports and airports in Venezuela. (b) This general license does not authorize: (1) Payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro; (2) Any transaction involving a person located in or organized under the laws of the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the People’s Republic of China, or any entity that is owned or controlled, directly or indirectly, by or in a joint venture with such persons; (3) The unblocking of any property blocked pursuant to the VSR; VerDate Sep<11>2014 15:59 May 06, 2026 Jkt 268001 PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 E:\FR\FM\07MYR1.SGM 07MYR1 khammond on DSK9W7S144PROD with RULES

24718 Federal Register / Vol. 91, No. 88 / Thursday, May 7, 2026 / Rules and Regulations (4) Any transaction involving a blocked vessel; (5) The formation of new joint ventures or other entities in Venezuela to explore or produce oil or gas; or (6) Any transactions or dealings related to the exportation or reexportation of diluents, directly or indirectly, to Venezuela. (c) Any person that exports, reexports, sells, resells, or supplies goods, technology, software, or services pursuant to this general license must provide a detailed report to Sanctions_ inbox@state.gov and VZReporting@ doe.gov that identifies, for each of these transactions: (1) The parties involved; (2) The goods, technology, software, or services involved, including quantities and values; (3) The dates the transactions occurred; and (4) Any taxes, fees, or other payments provided to the Government of Venezuela. (d) Reports described in paragraph (c) are due ten days after the execution of the first of such transactions and every 90 days thereafter while such transactions are ongoing. Note to General License No. 48. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: February 10, 2026. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 49 Authorizing Negotiations of and Entry Into Contingent Contracts for Certain Investment in Venezuela (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petro´leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, that are related to the negotiation of and entry into contingent contracts for new investment in oil or gas sector operations in Venezuela are authorized, provided that the performance of any such contract is made expressly contingent upon separate authorization from the Office of Foreign Assets Control (‘‘contingent contracts’’). Note 1 to Paragraph (a). For purposes of this general license, the term ‘‘contingent contracts’’ includes executory contracts, executory pro forma invoices, agreements in principle, executory offers capable of acceptance such as bids or proposals in response to public tenders, binding memoranda of understanding, or any other similar agreement. Note 2 to Paragraph (a). Paragraph (a) authorizes negotiating and entering into contingent contracts to engage in new oil or gas exploration, development, or production activities in Venezuela, expand existing operations in Venezuela, and to form new joint ventures or other entities in Venezuela related to the foregoing activities. Transactions authorized by paragraph (a) also include prefatory steps for such activities, such as conducting commercial, legal, technical, safety, and environmental due diligence and assessments. (b) This general license does not authorize: (1) Any transaction involving a person located in the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the People’s Republic of China, or any entity that is owned or controlled by or in a joint venture with such persons; (2) The unblocking of any property blocked pursuant to the VSR; or (3) Any transaction involving a blocked vessel. Note to General License No. 49. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: February 13, 2026. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 50 Authorizing Transactions Related to Oil or Gas Sector Operations in Venezuela of Certain Entities (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petro´leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, ‘‘PdVSA Entities’’), that are related to oil or gas sector operations in Venezuela of the entities listed in the Annex to this general license and their subsidiaries are authorized, provided that: (1) Any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United States or any jurisdiction within the United States govern the contract and that any dispute resolution under the contract occur in the United States; and (2) Any monetary payment to a blocked person, excluding payments for local taxes, permits, or fees, is made into the Foreign Government Deposit Funds, as specified in Executive Order 14373 of January 9, 2026, or any other account as instructed by the U.S. Department of the Treasury. Note 1 to Paragraph (a)(2). Any payments of oil or gas taxes or royalties to the Government of Venezuela, PdVSA, or any PdVSA Entity must be paid into the Foreign Government Deposit Funds or any other account as instructed by the U.S. Department of the Treasury. (b) This general license does not authorize: (1) Payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro; (2) Any transaction involving a person located in the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the People’s Republic of China, or any entity that is owned or controlled by or in a joint venture with such persons; (3) The unblocking of any property blocked pursuant to the VSR; or (4) Any transaction involving a blocked vessel. (c) Any person that engages in transactions pursuant to this general license must provide a detailed report to Sanctions_inbox@state.gov and VZReporting@doe.gov that identifies: (1) The parties involved; (2) A description of the transactions, including, as relevant, the quantities, values, and dates of the transactions; and (3) Any taxes, fees, or other payments provided to the Government of Venezuela. (d) Reports described in paragraph (c) are due ten days after the execution of the first of such transactions and every 90 days thereafter while such transactions are ongoing. Note to General License No. 50. Nothing in this general license relieves any person from VerDate Sep<11>2014 15:59 May 06, 2026 Jkt 268001 PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 E:\FR\FM\07MYR1.SGM 07MYR1 khammond on DSK9W7S144PROD with RULES

Federal Register / Vol. 91, No. 88 / Thursday, May 7, 2026 / Rules and Regulations 24719 compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: February 13, 2026. Annex—Entities Described in Paragraph (a) of General License 50 List of Entities Described in Paragraph (a) of General License 50 as of February 13, 2026: Entity BP PLC Chevron Corporation Eni S.p.A. Repsol S.A. Shell PLC Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2026–09090 Filed 5–6–26; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control 31 CFR Part 591 Publication of Venezuela Sanctions Regulations Web General Licenses 46, 46A, and 46B AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Publication of web general licenses. SUMMARY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing three general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 46, 46A, and 46B, each of which was previously made available on OFAC’s website. DATES: GL 46 was issued on January 29, 2026. See SUPPLEMENTARY INFORMATION for additional relevant dates. FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for Regulatory Affairs, 202–622–4855; or https:// ofac.treasury.gov/contact-ofac. SUPPLEMENTARY INFORMATION: Electronic Availability This document and additional information concerning OFAC are available on OFAC’s website: https:// ofac.treasury.gov/. Background On January 29, 2026, OFAC issued GL 46 to authorize certain transactions otherwise prohibited by the Venezuela Sanctions Regulations (VSR), 31 CFR part 591. On February 10, 2026, OFAC issued GL 46A, which replaced and superseded GL 46. On March 13, 2026, OFAC issued GL 46B, which replaced and superseded GL 46A. These GLs were made available on OFAC’s website (https://ofac.treasury.gov) when they were issued. The text of these GLs is provided below. OFFICE OF FOREIGN ASSETS CONTROL Venezuela Sanctions Regulations 31 CFR Part 591 GENERAL LICENSE NO. 46 Authorizing Certain Activities Involving Venezuelan-Origin Oil (a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petro´leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, ‘‘PdVSA Entities’’), that are ordinarily incident and necessary to the lifting, exportation, reexportation, sale, resale, supply, storage, marketing, purchase, delivery, or transportation of Venezuelan-origin oil, including the refining of such oil, by an established U.S. entity are authorized, provided that: (1) Any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United States or any jurisdiction within the United States govern the contract and that any dispute resolution under the contract occur in the United States; and (2) Any monetary payment to a blocked person is made into the Foreign Government Deposit Funds, as specified in Executive Order 14373 of January 9, 2026, or any other account as instructed by the U.S. Department of the Treasury. Note 1 to Paragraph (a). For purposes of this general license, the term ‘‘established U.S. entity’’ means any entity organized under the laws of the United States or any jurisdiction within the United States on or before January 29, 2025. Note 2 to Paragraph (a). Transactions authorized by paragraph (a) include arranging shipping and logistics services, including chartering vessels, obtaining marine insurance and protection and indemnity (P&I) coverage, and arranging port and terminal services, including with port authorities or terminal operators that are part of the Government of Venezuela. Paragraph (a) also authorizes commercially reasonable payments in the form of swaps of crude oil, diluents, or refined petroleum products. (b) This general license does not authorize: (1) Payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro; (2) Any transaction involving a person located in or organized under the laws of the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, or any entity that is owned or controlled, directly or indirectly, by or in a joint venture with such persons; (3) Any transaction involving an entity located in or organized under the laws of Venezuela or the United States that is owned or controlled, directly or indirectly, by or in a joint venture with a person located in or organized under the laws of the People’s Republic of China; (4) The unblocking of any property blocked pursuant to the VSR; or (5) Any transaction involving a blocked vessel. (c) Any person that exports, reexports, sells, resells, or supplies Venezuelan￾origin oil to countries other than the United States pursuant to this general license must provide a detailed report to Sanctions_inbox@state.gov and VZReporting@doe.gov that identifies, for each of these transactions: (1) The parties involved; (2) The quantities, values, and countries of ultimate destination; (3) The dates the transactions occurred; and (4) Any taxes, fees, or other payments provided to the Government of Venezuela. (d) Reports described in paragraph (c) are due ten days after the execution of the first of such transactions and every 90 days thereafter while such transactions are ongoing. Note to General License No. 46. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce’s Bureau of Industry and Security. Bradley T. Smith, Director, Office of Foreign Assets Control. Dated: January 29, 2026. VerDate Sep<11>2014 15:59 May 06, 2026 Jkt 268001 PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 E:\FR\FM\07MYR1.SGM 07MYR1 khammond on DSK9W7S144PROD with RULES