GL-46D

Summary

General License No. 46D authorizes established U.S. entities to engage in transactions 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. Monetary payments to blocked persons must be directed to the Foreign Government Deposit Funds or another account as instructed by the U.S. Department of the Treasury. Contracts with the Government of Venezuela, PdVSA, or PdVSA Entities must require dispute resolution in the United States, United Kingdom, France, or Singapore. The license excludes transactions involving certain sanctioned-country nationals, Chinese-controlled entities, blocked vessels, and non-commercially-reasonable payment terms.

Authorized activities

• Lifting of Venezuelan-origin oil
• Exportation of Venezuelan-origin oil or petrochemical products
• Reexportation of Venezuelan-origin oil or petrochemical products
• Sale and resale of Venezuelan-origin oil or petrochemical products
• Supply of Venezuelan-origin oil or petrochemical products
• Storage of Venezuelan-origin oil or petrochemical products
• Marketing of Venezuelan-origin oil or petrochemical products
• Purchase of Venezuelan-origin oil or petrochemical products
• Delivery of Venezuelan-origin oil or petrochemical products
• Transportation of Venezuelan-origin oil or petrochemical products
• Refining of Venezuelan-origin oil
• Importation of Venezuelan-origin oil or petrochemical products into the United States
• 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

Authorized only for 'established U.S. entities' (organized under U.S. law on or before January 29, 2025). Contracts with the Government of Venezuela, PdVSA, or PdVSA Entities must require dispute resolution in the U.S., U.K., France, or Singapore. Monetary payments to blocked persons (excluding local taxes, permits, or fees) must be made into the Foreign Government Deposit Funds or another Treasury-instructed account. Transactions involving persons from Russia, Iran, North Korea, Cuba, Chinese-controlled entities, blocked vessels, debt swaps, gold payments, Venezuelan digital currency, or unblocking of blocked property are not authorized.

Reporting requirement

Any person that exports, reexports, sells, resells, or supplies Venezuelan-origin oil to countries other than the United States must report to Sanctions_inbox@state.gov and VZReporting@doe.gov, identifying parties involved, quantities/values/countries of ultimate destination, transaction dates, and any taxes/fees/payments to the Government of Venezuela. Reports are due ten days after the execution of the first such transaction and every 90 days thereafter while such transactions are ongoing.