In February 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued five General Licenses regarding transactions in Venezuela. 

General Licenses 46A, 47, 48, 49, and 50A authorize various types of transactions involving "the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest." Subject to specified restrictions, authorized transactions include:

• Certain activities involving Venezuelan-origin oil;
• Sale of U.S.-origin dilutents;
• Supply of certain items and services related to the exploration, development, or production of oil and gas in Venezuela; and
• Negotiation of contracts related to investment in oil and gas operations in Venezuela. 

The General Licenses were published on OFAC's website between February 3 and February 18, 2026. 

General License 46A can be found here:
https://ofac.treasury.gov/media/935001/download?inline 

General License 47 can be found here: 
https://ofac.treasury.gov/media/934891/download?inline 

General License 48 can be found here: 
https://ofac.treasury.gov/media/934986/download?inline 

General License 49 can be found here: 
https://ofac.treasury.gov/media/935011/download?inline 

General License 50A can be found here: 
https://ofac.treasury.gov/media/935031/download?inline