OFAC FAQ (Current) # 1260 - Venezuela Sanctions

Date issued: Jun. 10 2026

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TURBOFAC Commentary (185 words)

Notes:

1) See Venezuela General License 46C, Venezuela General License 47A, Venezuela General License 48B, Venezuela General License 50B, Venezuela General License 51B, Venezuela General License 52A, and Venezuela General License 54A. FAQ clarifies that the condition in those GLs concerning the law under which the contract must be “construed and interpreted” means that “the laws of a state or other jurisdiction within the United States must govern questions of contract law between the parties relating to the contract, including interpretation” and other aspects, but this is not inconsistent with “inclusion of contract terms that recognize that certain aspects of the underlying activity in Venezuela may be subject to applicable Venezuelan law and regulations”. The FAQ also clarifies that the “construed and interpreted in accordance with the laws of a state or other...