telecommunications
Among the permitted actions is the resumption of transactions with Petróleos de Venezuela (PDVSA), as well as the exchange of petroleum products, petrochemicals, and the purchase of U.S.-origin diluents that are indispensable
OFAC issued eight new commercial licenses for Venezuela in hydrocarbons, mining and telecommunications
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued this Thursday a set of eight general licenses that ease the economic restrictions that had been imposed on Venezuela.
The measure focuses on three strategic engines for the country: the hydrocarbons industry, the mining sector, and telecommunications. With this decision, the U.S. government again enables various commercial and financial operations that had remained blocked.
This regulatory update reflects progress between diplomatic actions and relationship-building between the governments of Venezuela and the U.S., in order to energize strategic commercial and production activities.
Among the permitted actions, the resumption of transactions with Petróleos de Venezuela (PDVSA) stands out, as well as the exchange of petroleum products, petrochemicals, and the purchase of diluents of U.S. origin that are essential for crude processing.
In the mining sector, the authorizations cover activities related to the extraction of minerals of Venezuelan origin, including gold, along with the supply of services and tools needed for their operational development.
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This easing represents a significant step in the bilateral agenda between Caracas and Washington, creating an operational window to attract foreign direct investment and improve logistics flows in key supply chains.
Details of issued licenses:
General License 46D: Authorizes transactions involving petroleum or petrochemical products of Venezuelan origin.
General License 47B: Allows the sale and import of U.S. diluents into Venezuela.
General License 48C: Enables the supply of specialized items and services for local operations.
General License 50C: Authorizes contracts and activities in the oil and gas sector for specific entities.
General License 51C: Authorizes commercial activities related to Venezuelan minerals, including gold.
General License 52B: Allows direct transactions involving Petróleos de Venezuela (PDVSA).
General License 54B: Facilitates the shipment of inputs and services intended for mining operations.
General License 61A: Authorizes the provision of equipment, items, and services for the telecommunications sector.