On June 25, 2026, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued General License No. 60 (“GL 60”) to authorize transactions related to earthquake relief efforts that would otherwise be prohibited under the Venezuela Sanctions Regulations, 31 CFR Part 591 (“VSR”). GL 60 is in effect through 12:01 am ET on October 23, 2026. Transactions for US Persons authorized by GL 60 include those involving the Government of Venezuela (“GOV”) and Specially Designated Nationals sanctioned pursuant to the Executive Orders incorporated into the VSR. In a note in GL 60, OFAC explains that US financial institutions may process payments from third countries related to Venezuela earthquake relief efforts. GL 60 supplements preexisting General License No. 29 that authorizes nongovernmental organizations to deal with the GOV for humanitarian projects to meet basic human needs. Parties considering shipping products to Venezuela to support earthquake relief efforts should also consider if such shipments trigger any export-control licensing requirements.
The post OFAC Issues General License for Earthquake Relief Efforts in Venezuela appeared first on Global Sanctions and Export Controls Blog.