Venezuela General License 56, 57; SDN Removal; FAQ 1248; TSRA Quarterly Report
Summary
OFAC issued Venezuela General License 56 authorizing commercial-related negotiations of contingent contracts with the Government of Venezuela, and General License 57 authorizing financial services transactions involving certain Venezuelan banks and Government of Venezuela individuals. OFAC also removed one individual (MUNOZ PEDROZA, Reinaldo Enrique) from the Specially Designated Nationals List and published FAQ 1248. A TSRA Quarterly Report covering October-December 2025 licensing activities was also released.
What changed
OFAC issued two new Venezuela-related general licenses and removed one individual from the SDN List. General License 56 authorizes commercial-related negotiations of contingent contracts with the Government of Venezuela, while General License 57 permits financial services transactions involving certain Venezuelan banks and Government of Venezuela individuals. One individual (MUNOZ PEDROZA, Reinaldo Enrique) was delisted from the SDN List.\n\nAffected parties in financial services, energy, and international trade sectors engaging with Venezuela should review these new licenses to determine whether their activities now fall within authorized scope. The SDN removal reduces exposure for parties previously blocked from engaging with this individual. OFAC also published FAQ 1248 providing additional guidance on Venezuela-related transactions.
What to do next
- Review Venezuela General License 56 for authorization scope for commercial negotiations with Venezuelan government
- Review Venezuela General License 57 for authorized financial services with Venezuelan banks and government individuals
- Monitor for FAQ 1248 guidance on Venezuela-related transactions
Archived snapshot
Apr 14, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Venezuela-related Designation Removal; Issuance of Venezuela-related General Licenses and Frequently Asked Question; Publication of Report for Licensing Activities Undertaken Pursuant to the Trade Sanctions Reform and Export Enhancement Act (TSRA)
04/14/2026 The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela General License 56, "Authorizing Commercial-Related Negotiations of Contingent Contracts with the Government of Venezuela," and Venezuela General License 57, "Authorizing Financial Services Transactions Involving Certain Venezuelan Banks and Government of Venezuela Individuals." OFAC is also issuing one Venezuela-related Frequently Asked Question, FAQ 1248.
Additionally, OFAC has released a Quarterly Report of Licensing Activities pursuant to Section 906(b) of the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA), covering activities undertaken by OFAC under Section 906(a)(1) of the TSRA from October through December 2025. Under the procedures established in its TSRA-related regulations, OFAC processes license applications requesting authorization to export agricultural commodities, medicine, and medical devices to Iran under the specific licensing regime set forth in Section 906 of the TSRA.
Lastly, OFAC has updated the Specially Designated Nationals and Blocked Persons List.
Specially Designated Nationals List Updates
The following deletions have been made to OFAC's SDN List:
MUNOZ PEDROZA, Reinaldo Enrique, C. Gil Fortoul, Centauro A, 5-D, Santa Monica, Caracas, Distrito Capital 1040, Venezuela; DOB 28 Nov 1971; POB Caracas, Venezuela; nationality Venezuela; Gender Male; Cedula No. V-10869426 (Venezuela); Passport 138050232 (Venezuela) expires 25 Jul 2021 (individual) [VENEZUELA].
Unrelated Administrative List Changes:
None
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