GL 46B
GL 46B — Expanded Venezuelan Oil and Petrochemical Trade
Issued
Mar 13, 2026
Expiration
No expiration
Authorized entity
Compañías estadounidenses + filiales internacionales en sector energía VE
Type
General
Scope
Expanded version of GL 46 extending authorizations to activities involving Venezuelan-origin oil, petrochemical products, and supply of goods and services to the sector. Captures Repsol/Eni/M&P relationships without requiring specific licenses.
Authorized activities
- ·Comercio de crudo venezolano
- ·Comercio de petroquímicos
- ·Suministro de bienes y servicios al upstream venezolano
Prohibited activities
- ·Pagos directos a personas SDN individuales no exceptuadas
VENE · ECONOMIST Analysis
- Fact
- GL 46B (13 de marzo de 2026) consolida el marco para todos los IOC presentes en Venezuela y resuelve la ambigüedad de las primeras semanas del régimen 2026.
- Implication
- Reduce el costo de compliance de operadores europeos y asiáticos que operaban bajo licencias específicas. Habilita un mercado secundario de cargamentos VE más fluido.
- Indicator to monitor
- Volumen mensual de exportaciones petroleras VE (target 1.0-1.2M bpd Q3 2026 vs ~700K bpd Q4 2025).
Official source
This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.
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