OFAC Issues General License 60: Authorizing Transactions Related to Earthquake Relief Efforts in Venezuela

On June 25, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) officially issued General License 60 (GL 60) under the Venezuela Sanctions Regulations (VSR). This emergency regulatory mechanism carves out immediate, targeted relief to authorize transactions otherwise prohibited by the VSR that are directly essential to supporting earthquake recovery initiatives on the ground.

This critical humanitarian authorization is strictly time-bound and is currently scheduled to expire at 12:01 a.m. Eastern Daylight Time on October 23, 2026. The primary operational changes, financial safe harbors, and compliance parameters established under this new license include:

1. Scope of Authorized Relief and International Fund Routing

Paragraph (a) of GL 60 provides a sweeping authorization for transactions necessary to facilitate earthquake relief operations in Venezuela. To ensure that global aid can move efficiently without encountering severe institutional bottlenecks, Note 1 explicitly extends this authorization to cover the processing or transfer of financial funds on behalf of third-country persons or entities to or from Venezuela, provided they are in direct support of the permitted recovery efforts. This open international banking corridor permits global non-governmental organizations (NGOs) and foreign aid groups to leverage the U.S. financial system for crisis deployment.

2. Explicit Compliance "Safe Harbor" for Financial Intermediaries

Recognizing the transactional friction often caused by aggressive de-risking, Note 1 to paragraph (a) introduces a vital protective mechanism for banking networks. It establishes that U.S. financial institutions and U.S. registered money transmitters are legally permitted to rely entirely on the representations of the funds transfer originator regarding compliance with GL 60. This regulatory buffer remains valid provided that the clearing institution does not have actual knowledge, or a valid reason to know, that the underlying funds transfer fails to comply with the mandates of the license.

3. Rigorous Regulatory Guardrails and Exclusions

GL 60 represents a narrow crisis-response tool rather than a broader shift in geopolitical policy. This license explicitly restricts and does not authorize:

• No Release of Blocked Property. The unblocking or unfreezing of any property or assets currently blocked pursuant to the VSR.
• Other Sanctions Regimes. Any transactions, dealings, or activities otherwise prohibited by separate Executive Orders or alternative parts of 31 CFR Chapter V not referenced within GL 60.
• Multi-Agency Oversight. Note 2 explicitly confirms that nothing in GL 60 absolves any party from complying with separate federal statutes or the explicit export/regulatory mandates of other U.S. federal agencies.

Disclaimer

This report is prepared for informational purposes only and does not constitute legal advice. The interpretation and application of OFAC sanctions regulations are a complex area of U.S. law. Companies are strongly encouraged to consult qualified U.S. sanctions counsel before taking any action in reliance on GL 60. LEC Abogados is a Venezuelan law firm and does not practice U.S. law or provide advice on OFAC regulations. Information is current as of the date of publication.