Brief
The U.S. Treasury’s OFAC issued three updated general licenses covering Venezuela. They permit specified dealings involving Venezuelan-origin oil and petrochemical products, the provision of certain goods and services, and negotiations for contingent contracts tied to energy-sector investment. The measures preserve authorized channels for selected commercial and investment activity, while leaving the prohibition on transactions involving the Petro cryptocurrency in place. The framework remains selective rather than a broad removal of restrictions.
The renewed licenses keep formal channels open for oil trade, operational support and preparation of energy investments. However, maintaining the Petro ban underscores that U.S. policy remains transaction-specific, requiring investors to assess each proposed activity against the precise scope of OFAC authorization.
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Oil And Gas · Efecto Cocuyo - Economía
Sep 28, 2026
Watch for companies to announce transactions or contingent energy contracts under the updated licenses, and for any subsequent OFAC amendment that expands, narrows or clarifies the permitted activities or changes the Petro prohibition.