General License 52: OFAC Unlocks PDVSA for U.S. Companies and Rewrites the Rules of Venezuelan Oil

Rating B+ · Outlook positivo · Outlook stable. Rating B+ · Positive outlook. GL 52 is the broadest authorization Washington has issued on Venezuela since sanctions were imposed. It allows established U.S. companies to operate directly with PDVSA without a specific license. Contracts under U.S. law, payments to Treasury, and exclusion of Russia, Iran, China, and Cuba. Venezuelan oil wasn't set free — it changed wardens.