Venezuela is a tempting new business arena.

Many companies assume that Venezuela remained completely off limits. That is no longer accurate, the compliance risks are actually increasing.

OFAC has issued new Venezuela related general licenses in 2026 involving oil and gas, petrochemicals, mining, critical minerals, financial services, and contingent investment negotiations.

US companies are cautiously re-entering portions of the Venezuelan market under these specific licensing conditions.

But sanctions remain complex. SDN restrictions still apply. Reporting obligations are expanding, and dealings involving Russia, China, Iran, Cuba, and sanctioned intermediaries remain prohibited.

This is not a sanctions repeal.

It is a controlled opening with significant compliance expectations.

The Ethics and Compliance Q and A show is produced by One Stone Creative.