GL-54

Summary

This license authorizes U.S. persons and entities to provide goods, technology, software, and services from the United States for the exploration, development, mining, extraction, processing, refining, or production of minerals, including gold, in Venezuela. The authorization covers transactions that would otherwise be prohibited under the Venezuela Sanctions Regulations, including those involving the Government of Venezuela, Minerven, and Minerven Entities. It also covers ancillary activities such as payment processing, shipping, logistics, marine insurance, and port/terminal services, as well as maintenance and refurbishment of minerals operations equipment.

Authorized activities

• Provision of goods, technology, software, or services for exploration, development, mining, extraction, processing, refining, or production of minerals, including gold, in Venezuela
• Processing of payments
• 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
• Maintenance of minerals operations, including gold operations, in Venezuela
• Refurbishment or repair of items used for minerals exploration, development, mining, extraction, processing, refining, or production activities

Conditions

Contracts with the Government of Venezuela, Minerven, or Minerven Entities must be governed by U.S. law and provide for dispute resolution in the United States. 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 another account as directed by Treasury. The license does not authorize: commercially unreasonable payment terms, debt swaps, gold payments, or transactions denominated in Venezuelan digital currency (including the petro); transactions involving persons in Russia, Iran, North Korea, Cuba, or China, or entities owned/controlled by or in joint ventures with such persons; unblocking of blocked property; transactions involving blocked vessels; or formation of new joint ventures in Venezuela for minerals activities.

Reporting requirement

Any person that exports, reexports, sells, resells, or supplies goods, technology, software, or services under this license must provide a detailed report to Sanctions_inbox@state.gov and ofac_intake@doi.gov identifying: (1) the parties involved; (2) the goods, technology, software, or services involved, including quantities and values; (3) the dates the transactions occurred; and (4) any taxes, fees, or other payments provided to the Government of Venezuela. Reports are due ten days after execution of the first transaction and every 90 days thereafter while transactions are ongoing.