Key Points On January 29, 2026, the U.S. Department of the Treasury’s OFAC issued GL 46 to authorize a range of operations related to Venezuelan-origin oil otherwise prohibited under U.S. sanctions, including transactions with GoV, state-owned oil company PdVSA or PdVSA Entities, all of which are blocked. In the aftermath of a January 3, 2026 U.S. military and law enforcement operation that resulted in the capture and indictment of Venezuela’s so-called president, Nicolas Maduro, GL 46 is a significant step in the Trump administration’s effort to stabilize Venezuela’s economy under its newly led government.