OFAC publishes four new Venezuela sanctions general licenses
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has published four new general licenses (GLs 47, 48, 49, and 50) under the Venezuela Sanctions Regulations. These licenses were previously available on OFAC's website and are now formally documented in the Federal Register. The licenses expand the framework for authorized transactions related to Venezuela sanctions compliance.
Photo: Renan Braz / PexelsOFAC Issues Four New Venezuela Sanctions General Licenses
On May 7, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published four general licenses (GLs 47, 48, 49, and 50) pursuant to the Venezuela Sanctions Regulations in the Federal Register.
"The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing four general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GLs 47, 48, 49, and 50, which were previously made available on OFAC's website."
These general licenses provide specific authorization channels for transactions that would otherwise be prohibited under U.S. sanctions against Venezuela. While the Federal Register notice does not detail the scope of each individual license, general licenses issued under OFAC sanctions programs typically authorize specific categories of activity—such as humanitarian operations, personal remittances, or limited commercial transactions—without requiring prior approval from OFAC.
The formal publication in the Federal Register codifies these licenses and ensures they are accessible to the regulated community, including exporters, importers, freight forwarders, and financial institutions engaged in trade with or involving Venezuela-origin goods or entities.
Shippers and freight forwarders handling any goods with Venezuelan connections, Venezuelan-owned entities, or transactions that touch U.S. persons or the U.S. financial system must verify which of GLs 47–50 (if any) authorize their specific transaction. Failure to confirm authorization can result in violation of the International Emergency Economic Powers Act (IEEPA), with civil penalties up to $250,000 per violation and potential criminal liability.
What this means for shippers
You must immediately review whether your transaction qualifies under any of GLs 47–50. If your shipment involves Venezuela, Venezuelan entities, or Venezuela-origin goods, failure to confirm explicit authorization before shipment could trigger OFAC enforcement action and cargo seizure. Check OFAC's consolidated sanctions lists and consult the full text of each general license on OFAC's website or the Federal Register. If no license covers your transaction, apply for a specific license or do not proceed.
