GL 58: The first technical step towards restructuring the Venezuelan debt.
GL 58: The first technical step towards restructuring the Venezuelan debt. On May 5, 2026, the Office of Foreign Assets Control (OFAC) issued General License No. 58, which allows the Government of Venezuela, including PDVSA and its subsidiary companies (those with 50% or more of the [...]
Adjustment of the Minimum Integral Income in Venezuela.
Adjustment of the Minimum Integral Income in Venezuela. The month of May 2026 began unchanged in the base salary in Venezuela, which is maintained in Bs.130 (approximately 27 cents) since March 2022. Through an official announcement by the national executive, a new "comprehensive minimum income" scheme was established [...]
Cigo: New extension of protection (5W License).
Cigo: New extension of protection (5W License). The Office of Foreign Assets Control ("OFAC") of the United States Treasury Department issued on 4 May 2026 General License No. 5W ("GL 5W") under the Regulations of Sanctions to Venezuela ("VSR"). This instrument replaces and leaves no effect [...]
Resumption of Relations with Multilateral Agencies: World Bank and IMF.
Resumption of Relations with Multilateral Agencies: World Bank and IMF. The World Bank Group and the International Monetary Fund (IMF) simultaneously announced the resumption of their operational relations with the Government of Venezuela, this decision ends a pause in relations that has been in place since March 2019. 1. Authorities and Marco [...]
Growth in the Securities Market: BVC attracts domestic and international investors.
Growth in the Securities Market: BVC attracts domestic and international investors. The president of the Caracas Stock Exchange (BVC), José Grasso Vecchio, reported that the Venezuelan stock market is experiencing renewed dynamism, receiving an average of 5 to 6 high profile investors every week. Key points to [...]
General License No. 57 - OFAC: Opening of Financial Services with the Venezuelan Public Banking.
General License No. 57 - OFAC: Opening of Financial Services with the Venezuelan Public Banking. On 14 April, the Office of Foreign Assets Control ("OFAC") issued General License No. 57 ("LG 57") as a strategic flexibility measure that allows operations and transactions of banking services with certain State entities, facilitating [...]
General License No. 56 - OFAC: Authorization of Strategic Negotiations.
General License No. 56 - OFAC: Authorization of Strategic Negotiations. On April 14, the Office of Foreign Assets Control ("OFAC") of the United States Treasury Department issued General License No. 56 ("LG 56"). This measure authorizes natural and legal persons from the United States. EU to negotiate and conclude trade agreements with [...]
The New Age of Mining in Venezuela (Law 2026).
The New Age of Mining in Venezuela (Law 2026). On 9 April 2026, the National Assembly unanimously adopted the new Organic Mine Law, which replaces the previous statist model with a framework of openness and legal certainty for international capital. Its formal entry into force will take place with the [...]
RIF in the Digital Age: Administrative Providence SNAT / 2013 / 0048
The RIF in the Digital Age: Administrative Providence SNAT / 2013 / 0048 Administrative Providence SNAT / 2013 / 0048, published in the Official Gazette No. 40,214 of 25 July 2013, is the legal framework governing the Single Register of Fiscal Information (RIF) under the administration of SENIAT. Its main purpose is to systematize registration, updating and the [...]
Third time the adoption of the new Mining Act in Venezuela
Third time the adoption of the new Mining Act in Venezuela On Tuesday, April 7, 2026, the National Assembly decided to postpone the final adoption of the draft Mine Law, despite having made significant progress in voting on its articles. What do you have to know? Progress of the [...]
