PRINT
OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 47B
Authorizing the Sale of U.S.-Origin Diluents to Venezuela
(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, “PdVSA Entities”), that are ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, marketing, delivery, or transportation of U.S.-origin diluents to Venezuela are authorized, provided that any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities shall require that dispute resolution proceedings relating to the contract occur in the United States,...
Click the appropriate link below for access to this file.
Click the appropriate link below for access to this file.
[6-10-26 update – GL 46C, 47A, 48B, 50B, 51B, 52A, and 54A issued to amend the “governing law and dispute resolution” provision to specify the governing law can be state or other jurisdiction within the United States and that dispute resolution may occur in the UK, France or Singapore. See FAQ # 1260]
[8-27-26 update – GL amended (alongside all others with a governing law provision) to strike the requirement that “the terms of the contract be construed and interpreted in accordance with the laws of a state or other jurisdiction within the United States” and to remove the related interpretive note]
--
*This is one of several Venezuelan energy sector-related GLs issued since the U.S. military operation resulting in the capture of Nicolás Maduro. See Venezuela General License 46A,...