On January 29, 2026, OFAC issued General License No. 46 (“GL 46”), authorizing certain transactions that would otherwise be prohibited under U.S. sanctions on Venezuela, including transactions that ...

Economic sanctions compliance in the United States runs on a strict-liability standard. In plain terms: you don’t have to mean to violate sanctions to be in violation. For businesses, banks, ...

“Treasury is preparing to take action to wind-down General License 41 and other specific licenses as appropriate,” the Office of Foreign Asset Control (OFAC) said in a brief statement, adding that it ...

The US government issued a general license to allow oilfield-service companies to work in Venezuela as the Trump administration eases sanctions and pushes to rebuild the nation’s crude infrastructure.

June 20 (Reuters) - The U.S. Treasury Department on Friday extended a general license protecting Venezuela-owned refiner Citgo Petroleum from creditors through December 20, the department's website ...

[Stay on top of transportation news: Get TTNews in your inbox.] The Trump administration issued a general license expanding the ability of oil companies to operate in Venezuela, marking a significant ...

The U.S. Treasury Department on Tuesday issued a general license to facilitate the exploration and production of oil and gas in Venezuela, a long-awaited step that could help increase output in the ...