Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four companies for operating in the oil sector of the Venezuelan economy. Additionally, OFAC identified four vessels as blocked property. The United States reiterates that the exploitation of Venezuela’s oil assets for the benefit of the illegitimate regime of President Nicolas Maduro is unacceptable, and those that facilitate such activity risk losing access to the U.S. financial system.
“The illegitimate Maduro regime has enlisted the help of maritime companies and their vessels to continue the exploitation of Venezuela’s natural resources for the regime’s profit,” said Treasury Secretary Steven T. Mnuchin. “The United States will continue to target those who support this corrupt regime and contribute to the suffering of the Venezuelan people.”
Today’s action, pursuant to E.O. 13850, as amended, further targets Venezuela’s oil sector, which continues to provide financial resources to the illegitimate regime of President Maduro:
As a result of today’s action, all property and interests in property of these entities that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by the designated entities are also blocked. OFAC’s regulations generally prohibit all dealings by U.S. persons or those within (or transiting) the United States that involve any property or interests in property of blocked or designated persons.
U.S. sanctions need not be permanent; sanctions are intended to bring about a positive change of behavior. The United States has made clear that the removal of sanctions is available for individuals and entities designated under E.O. 13850, as amended, who take concrete and meaningful actions to restore democratic order, refuse to take part in human rights abuses, speak out against abuses committed by the illegitimate Maduro regime, cease involvement in the oil, gold, financial, or defense and security sectors of the Venezuelan economy, or combat corruption in Venezuela.
Identifying information on the entities designated and vessels identified today.
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