GL-57

Summary

This license authorizes all transactions ordinarily incident and necessary to the provision, exportation, or reexportation of financial services to, from, or for the benefit of four named Venezuelan banks (and their majority-owned subsidiaries), as well as individuals whose property is blocked solely because they meet the definition of 'Government of Venezuela' under E.O. 13884 (excluding SDN-listed individuals). It also authorizes related Government of Venezuela transactions necessary to carry out those financial services activities. The license does not permit unblocking of blocked property or any other transactions prohibited by the VSR unless separately authorized.

Authorized activities

• Provision, exportation, or reexportation of financial services to/from/for Banco Central de Venezuela
• Provision, exportation, or reexportation of financial services to/from/for Banco de Venezuela, S.A. Banco Universal
• Provision, exportation, or reexportation of financial services to/from/for Banco Digital de los Trabajadores Banco Universal C.A.
• Provision, exportation, or reexportation of financial services to/from/for Banco del Tesoro, C.A. Banco Universal
• Financial services transactions involving any entity 50% or more owned by the above banks
• Financial services transactions involving Government of Venezuela individuals blocked solely under E.O. 13884 (excluding SDN-listed individuals)
• All Government of Venezuela transactions necessary for the above financial services activities

Conditions

The license does not authorize: (1) the unblocking of any property blocked pursuant to any part of 31 CFR chapter V; or (2) any transactions otherwise prohibited by the VSR unless separately authorized. Individuals on OFAC's SDN list are explicitly excluded. U.S. financial institutions may rely on the originator or beneficiary of a funds transfer for compliance purposes, provided the institution does not know or have reason to know the transaction is non-compliant. Compliance with other U.S. laws (Bank Secrecy Act, USA PATRIOT Act, FinCEN regulations) is still required.