GL-54B

Summary

General License No. 54B authorizes U.S. persons to provide goods, technology, software, and services for the exploration, development, mining, extraction, processing, refining, or production of minerals (including gold) in Venezuela, including transactions involving the Government of Venezuela, Minerven, and Minerven Entities. Authorized transactions include processing payments, arranging shipping and logistics, obtaining marine insurance, and maintaining minerals operations such as refurbishment or repair of relevant equipment. The license imposes specific conditions on contracts and monetary payments to blocked persons, and excludes certain categories of transactions entirely. It supersedes General License No. 54A dated June 10, 2026, effective August 27, 2026.

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 require dispute resolution proceedings to occur in the United States, the United Kingdom, France, or Singapore. Any monetary payment to a blocked person (excluding local taxes, permits, or fees) must be made into the Foreign Government Deposit Funds per Executive Order 14373 of January 9, 2026, or another account as instructed by Treasury. The license does not authorize: (1) commercially unreasonable payment terms, debt swaps, gold payments, or Venezuelan government-issued digital currencies (including the petro); (2) transactions involving persons 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; (3) unblocking of property blocked under the VSR; (4) transactions involving a blocked vessel; or (5) formation of new joint ventures or other 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: (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 such transaction and every 90 days thereafter while transactions are ongoing.