Regulatory Alerts2026-05-07 | 2026-09092Publication of Venezuela Sanctions Regulations Web General Licenses 46, 46A, and 46B
The Department of the Treasury’s Office of Foreign Assets Control published General Licenses 46, 46A, and 46B to authorize specific transactions involving Venezuelan-origin oil and petrochemical products by established U.S. entities. These licenses supersede one another sequentially, with GL 46B being the current effective version as of March 13, 2026, and it expands authorized activities to include petrochemical products such as fertilizers. The regulations mandate that contracts be governed by U.S. law, require payments to be made into designated Treasury accounts, and impose strict reporting obligations for exports to third countries.
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