OFAC FAQ (Current) # 1226 - Venezuela Sanctions

Date issued: Feb. 06 2026

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TURBOFAC Commentary (121 words)

Notes:

1) See comments to Venezuela GL 46 for consolidated comment on the GL.

2) This FAQ adopts an extremely broad definition of the term “oil” for purposes of GL 46. For the EIA definition of “petroleum products,” see https://www.eia.gov/tools/glossary/index.php?id=Petroleum%20products. OFAC appears to be taking the view that, at a minimum, everything within the scope of the EIA definition qualifies as “oil” for purposes of the GL, so there may be a need to cross-reference laws and regulations other than those administered by OFAC to determine what unnamed products are covered by the GL (i.e. the “miscellaneous products obtained from the processing of crude oil (including lease condensate), natural gas, and other hydrocarbon compounds”).