Daily Compliance Brief — OFAC Broadens Venezuela Licensing for Telecommunications Investment

August 21, 2026

Signal

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Venezuela General Licenses 61 and 62 on 21 August 2026, authorizing specified telecommunications activities and negotiations for contingent investment contracts in Venezuela's telecommunications sector. OFAC published the measures in its 21 August 2026 Recent Actions update.

The agency also issued Venezuela-related FAQ 1266, providing additional guidance on the revised authorization framework. The changes create new permitted activity within the Venezuela sanctions regime while preserving the need to assess transactions against the specific conditions of each license.

The development is operationally relevant for institutions supporting telecommunications businesses, investment activity, or related financial services involving Venezuela.

Why it matters

Sanctions compliance teams should assess whether existing Venezuela controls accurately distinguish newly authorized activities from transactions that remain restricted.

Transaction-screening and due diligence processes may require updates to reflect the scope and conditions of General Licenses 61 and 62 and the accompanying FAQ.

Control owners should maintain documented license assessments and escalation procedures for transactions involving Venezuela's telecommunications sector.