The US Treasury Department’s Office of Foreign Assets Control (OFAC) has issued new licenses authorizing transactions in Venezuela’s oil, petrochemical, and mining sectors. These licenses – 46C, 47A, 48B, 50B, 51B, 52A, and 54A – supersede previous versions released earlier this year. The updated licenses introduce modifications to the conditions governing specific commercial operations within these industries. This move signals a potential shift in US policy toward Venezuela, potentially allowing for increased foreign investment and trade. The changes aim to provide clarity and flexibility for companies operating in or engaging with Venezuela’s crucial economic sectors. Details regarding the specific alterations to the license conditions were not immediately available, but the reauthorization indicates a willingness to engage with these industries despite ongoing political concerns. The licenses are intended to support a negotiated solution to the Venezuelan political crisis.