OFAC FAQ #1235 · Venezuela Sanctions
Does [Venezuela General License (GL) 46](https://ofac.treasury.gov/media/934886/download?inline) authorize downstream trading activities in Venezuelan-origin oil?
OFAC's answer
Yes. Once a transaction with the Government of Venezuela (GOV), Petróleos de Venezuela, S.A. (PdVSA), or its majority-owned subsidiaries (PdVSA Entities) has been completed pursuant to GL 46, and the interest—including any future or contingent interest—of a blocked entity is fully extinguished, then the oil can be freely sold, resold, and traded by any downstream purchaser, including entities that are not established U.S. entities, as defined in [GL 46](https://ofac.treasury.gov/media/934886/download?inline).