GL-54

Summary

General License No. 54 authorizes U.S. persons and entities to provide goods, technology, software, and services for the exploration, development, mining, extraction, processing, refining, or production of minerals, including gold, in Venezuela, even when such transactions involve the Government of Venezuela, Minerven, or Minerven Entities. The license covers ancillary activities such as payment processing, shipping, logistics, marine insurance, and port services. It requires that contracts be governed by U.S. law with U.S.-based dispute resolution, and that monetary payments to blocked persons be directed to the Foreign Government Deposit Funds as specified in Executive Order 14373.

Authorized activities

• Provision of goods, technology, software, or services for exploration of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for development of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for mining of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for extraction of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for processing of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for refining of minerals including gold in Venezuela
• Provision of goods, technology, software, or services for production of minerals including gold in Venezuela
• Processing of payments related to authorized minerals operations
• 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 Government of Venezuela port authorities or terminal operators
• 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 specify U.S. law as governing law and require 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 as instructed by Treasury. Payment terms must be commercially reasonable and cannot involve debt swaps, gold payments, or Venezuela-issued digital currency (including the petro). Transactions involving persons located in or organized under the laws of Russia, Iran, North Korea, Cuba, or China, or entities owned/controlled by or in joint ventures with such persons, are excluded. The license does not authorize unblocking of blocked property, transactions involving blocked vessels, or formation of new joint ventures or entities 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 submit a detailed report to Sanctions_inbox@state.gov and ofac_intake@doi.gov identifying: the parties involved, the goods/technology/software/services involved (including quantities and values), the dates transactions occurred, and any taxes, fees, or other payments provided to the Government of Venezuela. The initial report is due ten days after the first such transaction, with subsequent reports due every 90 days while transactions are ongoing.