OFAC FAQ (Current) # 1239 - Venezuela Sanctions

Date issued: Mar. 04 2026

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TURBOFAC Commentary (136 words)

Notes:

1) The Venezuela-related GLs that have the “Foreign Government Deposit Funds” requirements are self-executing, as are all GLs. However, here OFAC sets out a detailed list of information—essentially the information one would ordinarily need to furnish to obtain a specific license—that is required “To obtain payment account information for payments to the Foreign Government Deposit Funds”. Through this FAQ, OFAC appears to be effectively transforming all of the GLs featuring “Foreign Government Deposit Funds” requirements into statements of licensing policy, since there is no guarantee that the State Department will provide the account information to all of those who provide the information.

2) Query: what if someone has obtained “Foreign Government Deposit Funds” information from a third party? Can payments be freely made into the account absent any correspondence with OFAC?