U.S. Treasury Department expands waivers to permit energy investment and fertilizer exports
Change
The U.S. Treasury Department on March 13, 2026 issued three updated general licenses that expand permitted investment and operational activity in Venezuela’s oil sector and allow direct exports of fertilizer to the United States.
Why it matters
Sanctions compliance teams and counterparties must now treat certain Venezuela-related energy projects and fertilizer shipments as authorised only when they meet the specific conditions of the three updated general licenses. Procurement, banking, and logistics operations are required to revise screening, documentation, and contractual terms before executing transactions that rely on the new authorisations.
Implications
- • Sanctions compliance teams at U.S. and correspondent banks must update transaction screening rules and internal license lists to identify and permit activity covered by the three new general licenses or risk continued blocking of otherwise authorised transfers.
- • Fertilizer exporters to the United States must secure and document compliance with the updated general licenses before arranging shipments to ensure carriers and banks accept the cargo and payment.
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