OFAC FAQ (Current) # 1266 - Venezuela Sanctions

Date issued: Aug. 21 2026

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TURBOFAC Commentary (533 words)

Consolidated Comment on Venezuela General License 61, Venezuela General License 62 and FAQ # 1266

1) On 8-21-26, OFAC issued the three documents referenced above in connection with the Venezuelan telecommunications sector. GL 62 is a “contingent contracts for new investment” GL that broadly parallels Venezuela GL 55 in the mining context (see comments thereto). The term “new investment” is not defined for purposes of the GL, but it should be presumed to cover a range of activity not covered by the concurrently issued GL 61 “Authorizing the Supply of Certain Items and Services to Venezuela Related to Telecommunications”. It is clear from Note 2 that “establish new telecommunication service providers in Venezuela” and “expand existing telecommunications operations in Venezuela” would constitute “new investment”.

2) Concurrently, OFAC issued Venezuela GL 61 and...