Publication of Venezuela Sanctions Regulations Web General Licenses 48A and 49A

(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petr[oacute]leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest (collectively, “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 for such transactions with the Government of Venezuela, PdVSA, or PdVSA Entities specify that the laws of the United States or any jurisdiction within the United States govern the contract and that any dispute resolution under the contract occur in the United States; and

(2) Any monetary payment to a blocked person, excluding payments for local taxes, permits, or fees, is made into the Foreign Government Deposit Funds, as specified in Executive Order 14373 of January 9, 2026, or any other account as instructed by the U.S. Department of the Treasury.

Note 1 to Paragraph (a). Transactions authorized by paragraph (a) include processing of payments, arranging shipping and logistics services, including chartering vessels, obtaining marine insurance and protection and indemnity (P&I) coverage, and arranging port and terminal services, including with port authorities or terminal operators that are part of the Government of Venezuela. Paragraph (a) also authorizes transactions for the maintenance of oil, gas, petrochemical products, or electricity operations in Venezuela, including the refurbishment or repair of items used for oil, gas, or petrochemical products exploration, development, or production activities, or for electricity generation, transmission, storage, or distribution.

Note 2 to Paragraph (a). See Venezuela General License No. 30B for an authorization for transactions ordinarily incident and necessary to operations or use of ports and airports in Venezuela.

Note 3 to Paragraph (a). For purposes of this general license, the term “petrochemical products” includes fertilizer products and fertilizer precursor chemicals, including the chemicals listed in the Annex of this general license.

(b) This general license does not authorize:

(1) Payment terms that are not commercially reasonable, involve debt swaps or payments in gold, or are denominated in digital currency, digital coin, or digital tokens issued by, for, or on behalf of the Government of Venezuela, including the petro;

(2) Any transaction involving a person located in or organized under the laws of the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Republic of Cuba, the People's Republic of China, or any entity that is owned or controlled, directly or indirectly, by or in a joint venture with such persons;

(3) The unblocking of any property blocked pursuant to the VSR;

(4) Any transaction involving a blocked vessel;

(5) The formation of new joint ventures or other entities in Venezuela to explore or produce oil, gas, or petrochemical products or to generate, transmit, store, or distribute electricity; or

(6) Any transactions or dealings related to the exportation or reexportation of diluents, directly or indirectly, to Venezuela.

(c) Any person that exports, reexports, sells, resells, or supplies goods, technology, software, or services pursuant to this general license must provide a detailed report to [email protected] and [email protected] that identifies, for each of these transactions:

(1) The parties involved;

(2) The goods, technology, software, or services involved, including quantities and values;

(3) The dates the transactions occurred; and

(4) Any taxes, fees, or other payments provided to the Government of Venezuela.

(d) Reports described in paragraph (c) are due ten days after the execution of the first of such transactions and every 90 days thereafter while such transactions are ongoing.

(e) Effective March 13, 2026, General License No. 48, dated February 10, 2026, is replaced and superseded in its entirety by this General License No. 48A.

Note to General License No. 48A. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce's Bureau of Industry and Security.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

Dated: March 13, 2026.

Annex to General License 48A

Chemicals that fall within the scope of the term “petrochemical products” include the following:

Chemical name HS code

Sulfur.................................................. 2503000010 Sulfur.................................................. 2503000090 Phosphate Rock.......................................... 2510100000 Phosphate Rock.......................................... 2510200000 Sulfuric Acid........................................... 2807000000 Phosphoric Acid, fertilizer-grade, containing less than 2809200010

65 percent available................................... Phosphoric Acid, other.................................. 2809200020 Anhydrous Ammonia....................................... 2814100000 Aqua Ammonia............................................ 2814200000 Potassium Nitrate....................................... 2834210000 Calcium Nitrate......................................... 2834291000 Potassium Phosphate..................................... 2835240000 Dicalcium Phosphates.................................... 2835250000 Other Phosphates of Calcium............................. 2835260000 Urea (Solid)............................................ 3102100000 Urea (Solid)............................................ 3102100010 Diesel Exhaust Fluid.................................... 3102100030 Other Urea.............................................. 3102100050 Ammonium Sulfate........................................ 3102210000 Other Nitrogen Fert..................................... 3102290000 Ammonium Nitrate........................................ 3102300000 Ammonia Nitrate......................................... 3102400000 Sodium Nitrate.......................................... 3102500000 Other Nitrogen Fert..................................... 3102600000 Mixtures of urea and ammonium nitrate in aqueous or 3102800000

ammoniacal solution.................................... Other Nitrogen Fert..................................... 3102900100 Concentrated Super...................................... 3103110000 Normal Super............................................ 3103190000 Other Phosphate Fert.................................... 3103900100 Potassium Muriate....................................... 3104200000 Potassium Muriate 62% Oxide............................ 3104200050 Potassium Sulfate....................................... 3104300000 Other Potassium Fert.................................... 3104900100 Chemical Mixtures....................................... 3105100000 Chemical Mixtures....................................... 3105200000 Diammonium Phosphate.................................... 3105300000 Monoammonium Phosphate & Other.......................... 3105400000 Monoammonium Phosphate & Other.......................... 3105400010 Monoammonium Phosphate & Other.......................... 3105400050 Chemical Mixtures....................................... 3105510000 Chemical Mixtures....................................... 3105590000 Chemical Mixtures....................................... 3105600000 Potassium Sodium Nitrate................................ 3105900010 Other Mixtures.......................................... 3105900050

31 CFR Part 591

GENERAL LICENSE NO. 49A

Authorizing Negotiations of and Entry Into Contingent Contracts for Certain Investment in Venezuela

(a) Except as provided in paragraph (b) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (the VSR), including those involving the Government of Venezuela, Petr[oacute]leos de Venezuela, S.A. (PdVSA), or any entity in which PdVSA owns, directly or indirectly, a 50 percent or greater interest, that are related to the negotiation of and entry into contingent contracts for new investment in oil, gas, petrochemical products, or electricity sector operations in Venezuela, are authorized, provided that the performance of any such contract is made expressly contingent upon separate authorization from the Office of Foreign Assets Control (“contingent contracts”).

Note 1 to Paragraph (a). For purposes of this general license, the term “contingent contracts” includes executory contracts, executory pro forma invoices, agreements in principle, executory offers capable of

acceptance such as bids or proposals in response to public tenders, binding memoranda of understanding, or any other similar agreement.

Note 2 to Paragraph (a). Paragraph (a) authorizes negotiating and entering into contingent contracts to engage in new oil, gas, or petrochemical products exploration, development, or production activities in Venezuela, or new electricity generation, transmission, storage, or distribution activities in Venezuela; to expand existing operations in Venezuela; and to form new joint ventures or other entities in Venezuela related to the foregoing activities. Transactions authorized by paragraph (a) also include prefatory steps for such activities, such as conducting commercial, legal, technical, safety, and environmental due diligence and assessments.

Note 3 to Paragraph (a). For purposes of this general license, the term “petrochemical products” includes fertilizer products and fertilizer precursor chemicals, including the chemicals listed in the Annex of this general license.

(b) This general license does not authorize:

(1) Any transaction involving a person located in the Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Republic of Cuba, the People's Republic of China, or any entity that is owned or controlled by or in a joint venture with such persons;

(2) The unblocking of any property blocked pursuant to the VSR; or

(3) Any transaction involving a blocked vessel.

(c) Effective March 13, 2026, General License No. 49, dated February 13, 2026, is replaced and superseded in its entirety by this General License No. 49A.

Note to General License No. 49A. Nothing in this general license relieves any person from compliance with the requirements of other Federal agencies, including the Department of Commerce's Bureau of Industry and Security.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

Dated: March 13, 2026.

Annex to General License 49A

Chemicals that fall within the scope of the term “petrochemical products” include the following:

Chemical name HS code

Sulfur.................................................. 2503000010 Sulfur.................................................. 2503000090 Phosphate Rock.......................................... 2510100000 Phosphate Rock.......................................... 2510200000 Sulfuric Acid........................................... 2807000000 Phosphoric Acid, fertilizer-grade, containing less than 2809200010

65 percent available................................... Phosphoric Acid, other.................................. 2809200020 Anhydrous Ammonia....................................... 2814100000 Aqua Ammonia............................................ 2814200000 Potassium Nitrate....................................... 2834210000 Calcium Nitrate......................................... 2834291000 Potassium Phosphate..................................... 2835240000 Dicalcium Phosphates.................................... 2835250000 Other Phosphates of Calcium............................. 2835260000 Urea (Solid)............................................ 3102100000 Urea (Solid)............................................ 3102100010 Diesel Exhaust Fluid.................................... 3102100030 Other Urea.............................................. 3102100050 Ammonium Sulfate........................................ 3102210000 Other Nitrogen Fert..................................... 3102290000 Ammonium Nitrate........................................ 3102300000 Ammonia Nitrate......................................... 3102400000 Sodium Nitrate.......................................... 3102500000 Other Nitrogen Fert..................................... 3102600000 Mixtures of urea and ammonium nitrate in aqueous or 3102800000

ammoniacal solution.................................... Other Nitrogen Fert..................................... 3102900100 Concentrated Super...................................... 3103110000 Normal Super............................................ 3103190000 Other Phosphate Fert.................................... 3103900100 Potassium Muriate....................................... 3104200000 Potassium Muriate 62% Oxide............................ 3104200050 Potassium Sulfate....................................... 3104300000 Other Potassium Fert.................................... 3104900100 Chemical Mixtures....................................... 3105100000 Chemical Mixtures....................................... 3105200000 Diammonium Phosphate.................................... 3105300000 Monoammonium Phosphate & Other.......................... 3105400000 Monoammonium Phosphate & Other.......................... 3105400010 Monoammonium Phosphate & Other.......................... 3105400050 Chemical Mixtures....................................... 3105510000 Chemical Mixtures....................................... 3105590000 Chemical Mixtures....................................... 3105600000 Potassium Sodium Nitrate................................ 3105900010 Other Mixtures.......................................... 3105900050

Bradley T. Smith, Director, Office of Foreign Assets Control. [FR Doc. 2026-11616 Filed 6-9-26; 8:45 am] BILLING CODE 4810-AL-P