GL-47B

Summary

General License No. 47B authorizes all transactions ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, marketing, delivery, or transportation of U.S.-origin diluents to Venezuela, including transactions involving the Government of Venezuela, PdVSA, and PdVSA Entities. Authorized transactions include processing payments, arranging shipping and logistics, chartering vessels, obtaining marine insurance and P&I coverage, and arranging port and terminal services. The license imposes specific exclusions and conditions, including a dispute-resolution venue requirement for contracts with Venezuelan government entities. It supersedes General License No. 47A, dated June 10, 2026.

Authorized activities

• Exportation of U.S.-origin diluents to Venezuela
• Reexportation of U.S.-origin diluents to Venezuela
• Sale and resale of U.S.-origin diluents to Venezuela
• Supply and storage of U.S.-origin diluents to Venezuela
• Marketing, delivery, and transportation of U.S.-origin diluents to Venezuela
• Processing of payments related to the above transactions
• 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
• Transactions involving the Government of Venezuela, PdVSA, or PdVSA Entities that are ordinarily incident and necessary to the above activities

Conditions

Contracts with the Government of Venezuela, PdVSA, or PdVSA Entities must require that dispute resolution proceedings occur in the United States, the United Kingdom, France, or Singapore. The license does not authorize: (1) payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency/coin/tokens issued by the Government of Venezuela (including the petro); (2) transactions involving persons located in or organized under the laws of Iran, North Korea, or Cuba, or entities owned/controlled by or in joint ventures with such persons; (3) unblocking of any property blocked under the VSR (except as provided in paragraph (a)); or (4) any transaction involving a blocked vessel. Nothing in this license relieves compliance obligations with other Federal agencies, including the Department of Commerce's Bureau of Industry and Security.

Reporting requirement

Any person that exports, reexports, sells, resells, or supplies U.S.-origin diluents to Venezuela pursuant to this general license must provide a detailed report to Sanctions_inbox@state.gov and VZReporting@doe.gov identifying: (1) the parties involved; (2) the quantities and values; and (3) the dates the transactions occurred. Reports are due ten days after the execution of the first such transaction and every 90 days thereafter while such transactions are ongoing.