OFAC Eases Sanctions On Financial Services And Commercial-Related Transactions In Venezuela

On April 14, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued two general licenses under the Venezuela Sanctions Regulations (“VSR”): General License No. 56 (“GL 56”) and General License No. 57 (“GL 57”). GL 56 authorizes companies to negotiate commercial deals with the Government of Venezuela, provided that the entry into and performance of such contracts are contingent on OFAC approval. GL 57 permits a broad range of financial services involving... By: King & Spalding