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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 50A
Authorizing Transactions Related to Oil or Gas Sector Operations in Venezuela of Certain Entities
(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 related to oil or gas sector operations in Venezuela of the entities listed in the Annex to this general license and their subsidiaries are authorized, provided that:
(1) Any contract for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws...
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1) *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, Venezuela General License 47, Venezuela General License 48, Venezuela General License 49 and Venezuela General License 50.
2) On February 13, 2026, OFAC issued Venezuela General License 49 Venezuela General License 50, “ which authorize “all transactions… that are related to oil or gas sector operations in Venezuela” for certain listed entities that appear on the Annex to GL 50, and for all others, “all transactions… related to the negotiation of and entry into contingent contracts for new investment in oil or gas sector operations” (Gl 49). GL 50 features carveouts that are similar to the ones that...