Venezuela Sanctions: New General Licenses for Minerals and Gold

OFAC Recent Actions

Published March 27th, 2026

Detected March 27th, 2026

Summary

The Office of Foreign Assets Control (OFAC) has issued three new general licenses related to Venezuela sanctions. These licenses authorize certain activities involving Venezuelan-origin minerals, including gold, and permit the supply of certain items and services for minerals operations, as well as negotiations for investment in Venezuela's minerals sector.

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What changed

OFAC has issued Venezuela-related General Licenses 51A, 54, and 55. General License 51A authorizes certain activities involving Venezuelan-origin minerals, including gold. General License 54 authorizes the supply of specific items and services for minerals operations in Venezuela. General License 55 authorizes the negotiation and entry into contingent contracts for certain investments in Venezuela's minerals sector.

These new general licenses provide specific carve-outs from existing sanctions, allowing for regulated transactions related to Venezuela's minerals and gold industries. Compliance officers should review the specific terms and conditions of each license to determine applicability to their operations and ensure adherence to the authorized activities. Failure to comply with the terms of these licenses or other applicable sanctions could result in penalties.

What to do next

Review Venezuela-related General Licenses 51A, 54, and 55 for applicability.
Ensure all authorized activities involving Venezuelan minerals and gold comply with the specific terms of the general licenses.
Update internal compliance procedures and training to reflect the new licensing authorizations.

Penalties

Civil penalties and enforcement actions may apply for violations of U.S. sanctions programs.

Source document (simplified)

Issuance of New and Amended Venezuela-related General Licenses

03/27/2026 The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Venezuela-related General License 51A, "Authorizing Certain Activities Involving Venezuelan-Origin Minerals, Including Gold;" Venezuela-related General License 54, "Authorizing the Supply of Certain Items and Services for Minerals Operations in Venezuela;" and Venezuela-related General License 55, "Authorizing Negotiations of and Entry Into Contingent Contracts for Certain Investment in Venezuela's Minerals Sector."