politics
февраль 6, 2026
Authorized sale of US-made thinners to Venezuela
The Treasury Department’s Office of Foreign Assets Control (OFAC) authorized on Tuesday the sale of U.S.-origin diluents to Venezuela, a component necessary to produce exportable grades of crude oil in the country.
TL;DR
- OFAC authorized the sale of U.S.-origin diluents to Venezuela.
- Diluents are necessary for producing exportable grades of crude oil.
- Authorized transactions include payment processing, maritime transport, logistics, vessel chartering, marine insurance, P&I coverage, and port/terminal services.
- The general license prohibits unreasonable payment terms, debt swaps, gold payments, or payments in Venezuelan government-issued digital currency.
- Last Thursday, the U.S. Treasury modified sanctions to authorize transactions related to the export, refining, and sale of Venezuelan petroleum by established U.S. entities.
- The Venezuelan parliament unanimously approved the Partial Reform of the Organic Hydrocarbons Law.
- The reform law consists of 35 articles derived from proposals from various sectors.
The Treasury Department’s Office of Foreign Assets Control (OFAC) authorized on Tuesday the sale of U.S.-origin diluents to Venezuela, a component necessary to produce exportable grades of crude oil in the country.
Transactions include payment processing, management of maritime transport and logistics services, vessel chartering, obtaining marine insurance, protection and indemnity (P&I) coverage, management of port and terminal services, including with port authorities or terminal operators belonging to the Government of Venezuela.
This general license does not authorize payment terms that are not commercially reasonable, that involve debt swaps or payments in gold, or that are denominated in digital currency, digital currency or digital tokens issued by, for or on behalf of the Government of Venezuela, including the petro.
Last Thursday, January 29th, The United States Treasury Department modified the sanctions on the Venezuelan oil industry by authorizing transactions "ordinarily incidental and necessary for the lifting, export, re-export, sale, resale, supply, storage, marketing, purchase, delivery or transportation of petroleum of Venezuelan origin, including the refining of such petroleum, by an established U.S. entity."
Recall that The Venezuelan parliament unanimously approved the Partial Reform of the Organic Hydrocarbons Law.
The president of the National Assembly, Deputy Jorge Rodríguez, emphasized that this legal instrument is sanctioned "for history, for the future, for our daughters and our sons" and stressed that "only good things will come after suffering."
The law establishes 35 articles, which are derived from proposals made by various sectors.