Federal Register #2026-11616

OFAC General Licenses 48A and 49A: Authorization for Supply of Chemicals and Services to Venezuela's Energy Sector

• The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published General Licenses 48A and 49A under the Venezuela Sanctions Regulations.
• These licenses authorize U.S. persons and entities to provide goods, technology, software, and services for oil, gas, petrochemical, and electricity operations in Venezuela.
  • Specific chemicals are listed as authorized for supply, including sulfur, phosphate rock, sulfuric acid, phosphoric acid, anhydrous ammonia, potassium nitrate, calcium nitrate, urea, diesel exhaust fluid, ammonium sulfate, ammonium nitrate, sodium nitrate, concentrated super, potassium muriate, potassium sulfate, diammonium phosphate, monoammonium phosphate, and potassium sodium nitrate.
  • Part numbers for each chemical are provided for clarity.
• GL 49A permits negotiations and entry into contingent contracts for new investments in Venezuela's energy sector, with performance contingent on further OFAC approval.
• Related services such as shipping, logistics, marine insurance, port and terminal services, maintenance, refurbishment, and repair are also authorized.
• Notable requirements include compliance with U.S. law in contracts, specific payment instructions, and restrictions on transactions involving certain countries and entities.
• No specific OEMs or vendors are named; the licenses apply broadly to U.S. persons and entities engaging in authorized activities.
• The U.S. Coast Guard will enforce safety zones for annual marine events in Michigan, but this is unrelated to the Venezuela sanctions licenses.

Description

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 48A and 49A, which were previously made available on OFAC's website. These licenses authorize certain transactions related to the exploration, development, or production of oil, gas, petrochemical products, and electricity in Venezuela, subject to specific conditions and restrictions. GL 48A authorizes the supply of certain items and services to Venezuela, while GL 49A authorizes negotiations and entry into contingent contracts for new investment in Venezuela's energy sector. Both licenses replace and supersede previous versions and include detailed provisions and limitations.

View original listing