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OFFICE OF FOREIGN ASSETS CONTROL
Venezuela Sanctions Regulations
31 CFR part 591
GENERAL LICENSE NO. 51A
Authorizing Certain Activities Involving Venezuelan-Origin Minerals, Including Gold
(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, CVG Compania General de Mineria de Venezuela CA (Minerven), or any entity in which Minerven owns, directly or indirectly, a 50 percent or greater interest (collectively, “Minerven Entities”), that are ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, purchase, delivery, or transportation of Venezuelan-origin minerals, including gold, by an established U.S. entity, are authorized, provided that:
(1) Any contract for such transactions with the Government of Venezuela, Minerven, or Minerven Entities specify that the laws...
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[3-27-26 Update - GL reissued as GL 51A to (i)add “reexportation” and “resale” to the scope of authorized activities, (ii) change “gold” to “minerals, including gold,” (iii) remove requirements that goods be imported into the United States, (iv) add a carveout for any “transaction involving the processing or refining of Venezuelan-origin minerals, including gold, in the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, or the People’s Republic of China,” and adding “exploration,” “development” and “processing” to the list of excluded activities.
The amended GL also adds an interpretive “Note 3 to Paragraph” specifying that “processing or refining” covered minerals falls within the scope of transactions “ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, purchase, delivery, or transportation of” such minerals. See also