GL-51A
SupersededAuthorizing Certain Activities Involving Venezuelan-Origin Minerals, Including Gold
Machine-extracted. The summary, conditions, and reporting fields on this page were extracted by AI from the official document. Rely on the official OFAC General License, not this page.
Summary
This license authorizes established U.S. entities to engage in transactions ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, purchase, delivery, or transportation of Venezuelan-origin minerals, including gold, even where those transactions involve the Government of Venezuela, Minerven, or Minerven Entities. Authorized transactions also include related due diligence, shipping and logistics, marine insurance, port services, and processing or refining of such minerals. Payments to blocked persons (other than local taxes, permits, or fees) must be made into the Foreign Government Deposit Funds or another account instructed by Treasury, and contracts with Venezuelan counterparties must be governed by U.S. law with U.S. dispute resolution.
Conditions
Only 'established U.S. entities' (organized under U.S. law on or before January 29, 2025) may rely on this license. Contracts with the Government of Venezuela, Minerven, or Minerven Entities must be governed by U.S. law and require U.S.-based dispute resolution. Monetary payments to blocked persons (except local taxes, permits, or fees) must go into the Foreign Government Deposit Funds per EO 14373 or another Treasury-instructed account. The license does not authorize: non-commercially-reasonable payment terms, debt swaps, in-kind payments, or payments in Venezuelan digital currency (including petro); transactions involving persons from Russia, Iran, North Korea, Cuba, or entities owned/controlled/joint-ventured with such persons; transactions involving Venezuela- or U.S.-organized entities owned/controlled/joint-ventured with Chinese persons; processing or refining Venezuelan minerals in Russia, Iran, North Korea, Cuba, or China; unblocking of blocked property; transactions involving a blocked vessel; or exploration, development, mining, extraction, processing, refining, or production of minerals in Venezuela, or formation of joint ventures or other entities in Venezuela for those activities.
Reporting requirement
Any person that exports, reexports, sells, resells, purchases, or supplies Venezuelan-origin minerals, including gold, pursuant to this license must submit a detailed report to Sanctions_inbox@state.gov and ofac_intake@doi.gov identifying: (1) the parties involved; (2) supply chain due diligence documentation; (3) quantities, descriptions, and purchase prices; (4) transaction dates; and (5) any taxes, fees, or other payments to the Government of Venezuela. Reports are due ten days after the first such transaction and every 30 days thereafter while transactions are ongoing.