GL-54C

Summary

General License No. 54C authorizes U.S. persons to provide goods, technology, software, or services for the exploration, development, mining, extraction, processing, refining, or production of coal or minerals, including gold, in Venezuela, even where such transactions would otherwise be prohibited by the Venezuela Sanctions Regulations. The authorization extends to transactions involving the Government of Venezuela, Carbozulia, Minerven, and Minerven Entities. Key conditions include requirements for specific dispute resolution venues and that monetary payments to blocked persons be directed to the Foreign Government Deposit Funds. The license supersedes General License No. 54B effective September 2, 2026.

Authorized activities

• Provision of goods, technology, software, or services for exploration of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for development of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for mining of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for extraction of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for processing of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for refining of coal or minerals (including gold) in Venezuela
• Provision of goods, technology, software, or services for production of coal or minerals (including gold) in Venezuela
• Processing of payments incident to the above activities
• 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 coal or minerals operations, including gold operations, in Venezuela
• Refurbishment or repair of items used for coal or minerals exploration, development, mining, extraction, processing, refining, or production activities

Conditions

Contracts with the Government of Venezuela, Carbozulia, 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 as specified in Executive Order 14373, or another account instructed by the U.S. Department of the Treasury. The license does not authorize commercially unreasonable payment terms, debt swaps, gold payments, transactions denominated in Venezuelan digital currency, transactions involving persons in Russia, Iran, North Korea, Cuba, or China, unblocking of blocked property, transactions involving blocked vessels, or formation of new joint ventures in Venezuela.

Reporting requirement

Any person that exports, reexports, sells, resells, or supplies goods, technology, software, or services pursuant to this general license must provide 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 the transactions occurred, and any taxes, fees, or other payments provided to the Government of Venezuela. Reports are due ten days after the execution of the first such transaction and every 90 days thereafter while such transactions are ongoing.