GL 48A
GL 48A — Supply of Certain Items and Services to Venezuela
Version history
- Mar 13, 2026Efectiva el 13-mar-2026, la GL 48A reemplaza y deja sin efecto en su totalidad a la GL 48 (10-feb-2026).
Issued
Mar 13, 2026
Expiration
No expiration
Authorized entity
ONG, organismos multilaterales, agencias humanitarias
Type
General
Regulation
31 CFR part 591 (VSR)
Executive orders
E.O. 14373 (9-ene-2026)
Signatory
Bradley T. Smith, Director, OFAC
Signed
Mar 13, 2026
Scope
Authorizes the provision from the United States or by a U.S. person of goods, technology, software, or services for the exploration, development, or production of oil, gas, or petrochemical products in Venezuela, or for the generation, transmission, storage, or distribution of electricity, subject to a U.S.-law contract and payments into the Foreign Government Deposit Funds. Supersedes GL 48.
Authorized parties
Authorized activities
- ·Asistencia humanitaria directa
- ·Provisión de salud, alimentos, agua
- ·Asistencia técnica al gobierno venezolano
Conditions
- ·El contrato debe regirse por la ley de EE.UU. y las disputas resolverse en EE.UU.
- ·Pagos a personas bloqueadas (salvo impuestos, permisos o tasas locales) al Foreign Government Deposit Funds (E.O. 14373)
Excluded jurisdictions
Reporting obligation
Reporte detallado a Sanctions_inbox@state.gov y VZReporting@doe.gov: dentro de 10 días tras la primera transacción y cada 90 días mientras continúen (partes, bienes/tecnología/software/servicios con cantidades y valores, fechas y pagos al Gobierno de Venezuela).
VENE · ECONOMIST Analysis
- Fact
- GL 48A amplía el marco humanitario a la víspera del re-engagement multilateral (FMI/BM/BID anunciado abril 2026).
- Implication
- Multilaterales pueden iniciar misiones técnicas (Article IV, debt sustainability analysis) sin riesgo OFAC. Es prerequisito para cualquier debate de reestructuración de deuda.
- Indicator to monitor
- Misión Article IV del FMI a Caracas. Préstamos puente BID/BM en discusión.
Official license textShow
General License No. 48A — Authorizing the Supply of Certain Items and Services to Venezuela
(a) Except as provided in paragraph (b), all transactions prohibited by the VSR — including those involving the Government of Venezuela, PdVSA, or "PdVSA Entities" — that are 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, or production of oil, gas, or petrochemical products in Venezuela, or for the generation, transmission, storage, or distribution of electricity in Venezuela, are authorized, provided that: (1) any contract specifies U.S. law governs and dispute resolution occurs in the U.S.; and (2) any payment to a blocked person (excluding local taxes, permits, or fees) is made into the Foreign Government Deposit Funds (E.O. 14373).
Note 1. Authorized transactions include processing of payments and shipping/logistics; and the maintenance of oil, gas, petrochemical, or electricity operations, including refurbishment or repair of related items.
Note 2. See GL 30B for authorization of port and airport operations.
Note 3. "Petrochemical products" includes fertilizers and precursor chemicals listed in the Annex.
(b) This general license does not authorize: (1) payment terms that are not commercially reasonable, debt swaps, gold, or crypto/petro; (2) transactions involving Russia, Iran, North Korea, Cuba, China persons or a joint venture with such persons; (3) unblocking of VSR-blocked property; (4) any transaction involving a blocked vessel; (5) the formation of new joint ventures or entities in Venezuela to explore/produce oil, gas, or petrochemicals or to generate/transmit/store/distribute electricity; or (6) dealings related to the export or reexport of diluents to Venezuela.
(c) Reporting to Sanctions_inbox@state.gov and VZReporting@doe.gov. (d) Reports due ten days after the first transaction and every 90 days thereafter.
(e) Effective March 13, 2026, General License No. 48 (February 10, 2026) is replaced and superseded in its entirety by this General License No. 48A.
Annex. Petrochemical/fertilizer chemicals with their HS codes (see official PDF).
Bradley T. Smith — Director, OFAC. Dated: March 13, 2026.
Official source
This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.
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