GL-62

Summary

This license authorizes all transactions otherwise prohibited by the Venezuela Sanctions Regulations (VSR) that are related to the negotiation of and entry into contingent contracts for new investment in Venezuela's telecommunications sector, including dealings with the Government of Venezuela and entities such as CONATEL and CANTV. Authorized activities include establishing new telecom service providers, expanding existing operations, forming joint ventures, and conducting due diligence. Contract performance under any such contingent contract remains subject to a separate OFAC authorization.

Authorized activities

• Negotiation of and entry into contingent contracts for new investment in Venezuela's telecommunications sector
• Transactions involving the Government of Venezuela, CONATEL, and CANTV related to the foregoing
• Establishing new telecommunication service providers in Venezuela
• Expanding existing telecommunications operations in Venezuela
• Forming new joint ventures or other entities in Venezuela related to telecom activities
• Prefatory steps such as conducting commercial, legal, technical, safety, and environmental due diligence and assessments

Conditions

Contract performance must be made expressly contingent upon separate OFAC authorization. Transactions involving persons located in Russia, Iran, North Korea, Cuba, or China (or entities owned/controlled by or in a joint venture with such persons) are excluded. Unblocking of property blocked under the VSR is not authorized. Compliance with other federal agency requirements (FCC, Committee for Assessment of Foreign Participation in U.S. Telecommunications Services Sector, and Commerce's Bureau of Industry and Security) is still required.