GL-46C

Summary

General License No. 46C authorizes established U.S. entities to engage in transactions otherwise prohibited by the Venezuela Sanctions Regulations (31 CFR part 591) that are ordinarily incident and necessary to the lifting, exportation, reexportation, sale, resale, supply, storage, marketing, purchase, delivery, or transportation of Venezuelan-origin oil (including refining) or Venezuelan-origin petrochemical products for importation into the United States. The license covers dealings with the Government of Venezuela, PdVSA, and PdVSA Entities. Monetary payments to blocked persons must be directed to the Foreign Government Deposit Funds as specified in Executive Order 14373 of January 9, 2026, or another account as instructed by the U.S. Department of the Treasury. The license supersedes General License No. 46B dated March 13, 2026.

Authorized activities

• Lifting of Venezuelan-origin oil
• Exportation and reexportation of Venezuelan-origin oil or petrochemical products for importation into the United States
• Sale and resale of Venezuelan-origin oil or petrochemical products
• Supply, storage, marketing, purchase, delivery, and transportation of Venezuelan-origin oil or petrochemical products
• Refining of Venezuelan-origin oil
• Arranging shipping and logistics services, including chartering vessels
• Obtaining marine insurance and protection and indemnity (P&I) coverage
• Arranging port and terminal services, including with port authorities or terminal operators that are part of the Government of Venezuela
• Commercially reasonable payments in the form of swaps of crude oil, diluents, or refined petroleum products
• Transactions involving fertilizer products and fertilizer precursor chemicals listed in the Annex

Conditions

Only 'established U.S. entities' (organized under U.S. laws on or before January 29, 2025) may rely on this license. Contracts with the Government of Venezuela, PdVSA, or PdVSA Entities must (i) be construed under the laws of a U.S. state or jurisdiction and (ii) require dispute resolution in the United States, United Kingdom, France, or Singapore. Monetary payments to blocked persons (excluding local taxes, permits, or fees) must be made into the Foreign Government Deposit Funds per Executive Order 14373 or as otherwise instructed by Treasury. Not authorized: commercially unreasonable payment terms, debt swaps, gold payments, Venezuelan government-issued digital currency (including the petro); transactions involving persons in Russia, Iran, North Korea, or Cuba; transactions involving entities in Venezuela or the U.S. owned/controlled by or in a joint venture with Chinese persons; unblocking of blocked property; or transactions involving a blocked vessel.

Reporting requirement

Any person that exports, reexports, sells, resells, or supplies Venezuelan-origin oil to countries other than the United States under this license must submit a detailed report to Sanctions_inbox@state.gov and VZReporting@doe.gov identifying: (1) the parties involved, (2) quantities, values, and countries of ultimate destination, (3) dates the transactions occurred, and (4) any taxes, fees, or other payments provided to the Government of Venezuela. The initial report is due ten days after the first such transaction, with subsequent reports due every 90 days while such transactions are ongoing.