OFAC Updates Venezuela Minerals Licences and Reiterates September 30 Blocked-Property Reporting Deadline

The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued an updated Venezuela sanctions action on 2 September 2026, combining new licensing changes for Venezuela’s coal and minerals sectors with a reminder on the 2026 Annual Report of Blocked Property.

OFAC reissued three Venezuela-related general licences. General License 51D authorises certain activities involving Venezuelan-origin coal or minerals, including gold. General License 54C authorises the supply of certain items and services for coal or minerals operations in Venezuela. General License 55A authorises negotiations and entry into contingent contracts for certain prospective investment in Venezuela’s coal or minerals sectors.

OFAC also amended Venezuela-related FAQ 1247.

September 30 blocked-property reporting deadline

OFAC separately reminded U.S. persons that anyone holding blocked property as of 30 June 2026 must file the 2026 Annual Report of Blocked Property no later than 30 September 2026. OFAC said failure to file by the deadline may lead to an enforcement referral.

The reporting reminder does not itself create a new sanctions programme or designation. The licensing changes likewise authorise specified transactions that would otherwise be prohibited under the Venezuela Sanctions Regulations, subject to the terms and limitations of each general licence.