GL-52A
SupersededAuthorizing Certain Transactions Involving Petróleos de Venezuela, S.A.
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 (organized on or before January 29, 2025) to engage in transactions with PdVSA and PdVSA Entities that would otherwise be prohibited by E.O. 13884 or E.O. 13850. It also authorizes related transactions involving the Government of Venezuela necessary for those activities. Monetary payments to blocked persons (excluding local taxes, permits, or fees) must be directed into the Foreign Government Deposit Funds or another Treasury-designated account. The license supersedes General License No. 52 dated March 18, 2026.
Authorized activities
- Transactions prohibited by E.O. 13884 or E.O. 13850 involving PdVSA or PdVSA Entities by an established U.S. entity
- Transactions involving the Government of Venezuela prohibited by E.O. 13884 that are necessary for the activities in paragraph (a)
Conditions
Contracts with PdVSA or PdVSA Entities must be governed by U.S. law and require dispute resolution in the US, UK, 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-designated account. The license does not authorize: transactions prohibited by E.O. 13808 (bonds/debt) or E.O. 13835 (equity pledging); settlement agreements or enforcement of liens/judgments against blocked property; transactions with SDN-listed persons (other than PdVSA/PdVSA Entities); commercially unreasonable payment terms, debt swaps, gold payments, or Venezuelan digital currency; transactions involving persons from Russia, Iran, North Korea, or Cuba; transactions involving Venezuela- or US-organized entities owned/controlled by Chinese persons; unblocking of VSR-blocked property; or transactions involving a blocked vessel.
Reporting requirement
Any person that exports, reexports, sells, resells, or supplies Venezuelan-origin oil or Venezuelan-origin petrochemical products to countries other than the United States must report to Sanctions_inbox@state.gov and VZReporting@doe.gov, identifying: (1) parties involved, (2) description of transactions including products, quantities, values, dates, and countries of ultimate destination, and (3) any taxes, fees, or other payments to the Government of Venezuela. Reports are due ten days after the first such transaction and every 90 days thereafter while ongoing.