Publication of Venezuela Sanctions Regulations Web General Licenses 5X and 5Y
Key claim: The Treasury Department’s OFAC is formally publishing in the Federal Register two Venezuela sanctions general licenses (5X and 5Y) that it had already posted on its website.
Abstract
(Rule · Treasury Department, Foreign Assets Control Office) The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing two general licenses (GLs) issued pursuant to the Venezuela Sanctions Regulations: GL 5X and 5Y, each of which was previously made available on OFAC’s website.
Why this matters
Federal Register publication of OFAC’s web-posted Venezuela general licenses gives U.S. persons, banks, and counterparties a formal, citable authority for permitted transactions with otherwise-blocked Venezuelan parties. Although the practical scope is unchanged from the web versions, codification matters for compliance programs, auditors, and litigation that rely on Federal Register text rather than agency website postings.