Venezuela-related General License 55, "Authorizing Negotiations of and Entry Into Contingent Contracts for Certain Investment in Venezuela's Minerals Sector."

Date issued: Mar. 27 2026

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TURBOFAC Commentary (191 words)

Consolidated Comment on Venezuela General License 54 and Venezuela General License 55

Venezuela Venezuela General License 51A broadly authorizes transactions “ordinarily incident and necessary to the exportation, reexportation, sale, resale, supply, storage, purchase, delivery, or transportation of Venezuelan-origin minerals, including gold”. This excludes “[e]xploration, development, mining, extraction, processing, refining, or production of minerals in Venezuela or the formation of joint ventures or other entities in Venezuela to engage in” such activities.

GL 54, similar to the “oil, gas, or petrochemical products”-related GL 48, authorizes transactions “ordinarily incident and necessary to the provision from the United States or by a U.S. person of goods, technology, software, or services for the exploration, development” of the relevant sectors. The carveouts to the two GLs are substantively identical as well. See comments to Venezuela General...