Brief
On June 10, OFAC released new and revised general licenses for a broad range of Venezuela-linked activities. The measures address trade in Venezuelan crude, petrochemicals and diluent supplies, as well as oil and gas work and mineral extraction inside the country. They also cover specified dealings connected to state oil company PDVSA, making the licensing package directly relevant to energy, commodities and sanctions compliance.
The package may change which Venezuela-linked commodity flows and operating activities can proceed under U.S. sanctions, directly affecting compliance pathways for traders, producers and service providers. Its reach across hydrocarbons, PDVSA and mining makes the license language central to pricing execution risk and potential market access.
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Industry · U.S. Treasury OFAC
Jun 10, 2026
Watch the licenses’ detailed conditions and effective periods, any subsequent OFAC guidance, and company disclosures showing whether the authorizations are being used for oil, diluent, petrochemical, gas or mining transactions.