GL 56
GL 56 — Commercial Negotiations Across All Sectors
Issued
Apr 14, 2026
Expiration
No expiration
Authorized entity
Compañías US y extranjeras (todos los sectores)
Type
General
Regulation
31 CFR part 591 (VSR)
Executive orders
E.O. 13884
Signatory
Bradley T. Smith, Director, OFAC
Signed
Apr 14, 2026
Scope
Authorizes negotiating contingent contracts with the Government of Venezuela across all economic sectors, expressly conditioning performance on a separate OFAC authorization. Structural milestone of the 2026 regime.
Authorized parties
Authorized activities
- ·Term sheets sectores telco, infra, agro, salud, manufactura
- ·Due diligence regulatorio y técnico
- ·Bilateral procurement discussions
Prohibited activities
- ·Cualquier ejecución material
- ·Transferencias de fondos a entidades sancionadas
Conditions
- ·La entrada y ejecución de cualquier contrato queda expresamente condicionada a una autorización separada de OFAC («contratos contingentes»)
Excluded jurisdictions
VENE · ECONOMIST Analysis
- Fact
- GL 56 emitida 14 de abril de 2026 amplía la lógica de negociación contingente más allá de energía (GL 49A) a todos los sectores económicos venezolanos.
- Implication
- Es la primera vez en 7 años que corporates extranjeros pueden firmar instrumentos vinculantes con autoridades VE en sectores como telco (Movistar/Digitel reasset), infraestructura (puertos, aeropuertos), salud (compras públicas) y agro (programas de seguridad alimentaria). Cada term sheet firmado bajo GL 56 es una opción call sobre la economía venezolana.
- Indicator to monitor
- Anuncios de MOUs por sector. Roadshows del MEF venezolano en NY/Madrid/Doha. Probabilidad implícita de que GL 56 se convierta en GL 56A con licencia de ejecución 12-18 meses adelante.
Official license textShow
General License No. 56 — Authorizing Commercial-Related Negotiations of Contingent Contracts with the Government of Venezuela
(a) Except as provided in paragraph (b), all transactions prohibited by E.O. 13884 that are ordinarily incident and necessary to engaging in commercial-related negotiations of contingent contracts with the Government of Venezuela are authorized, provided that the entry into and performance of any such contract is made expressly contingent upon separate authorization from OFAC ("contingent contracts").
Note 1. "Government of Venezuela" has the meaning in section 6(d) of E.O. 13884.
Note 2. "Contingent contracts" includes executory contracts, pro forma invoices, agreements in principle, executory offers (such as bids in response to public tenders), binding memoranda of understanding, or any similar agreement.
(b) This general license does not authorize: (1) transactions otherwise prohibited by the VSR, such as those prohibited by E.O. 13808 (bonds/debt) or E.O. 13835 (equity in PdVSA); (2) non-commercially-reasonable terms, debt swaps, gold, or crypto/petro; (3) settlement agreements or enforcement against blocked property; (4) transactions involving Russia, Iran, North Korea, or Cuba persons or a joint venture with such persons; (5) China-controlled Venezuela/U.S. entities; (6) any transaction involving an SDN-listed person or entities ≥50% owned by such persons; or (7) the unblocking of property blocked pursuant to 31 CFR Chapter V.
Bradley T. Smith — Director, OFAC. Dated: April 14, 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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