OFAC updated a general license to authorize certain activities in order to wind down operations or existing contracts with certain Venezuelan entities.

The Government Enforcement Defense & Investigations (GEDI) team at Foley has been closely monitoring the developing situation in Venezuela. Prior to the recent arrest of Nicolás Maduro, this included the designation...

OFAC delayed the expiration of a general license authorizing certain transactions relating to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond.

The Venezuelan Minister of the People's Power for Foreign Affairs announced that on 24 January 2012, Venezuela denounced the Convention for the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention).

On August 5, 2019, US President Donald J. Trump expanded existing US sanctions on Venezuela with a new Executive Order that prohibits US individuals or companies from engaging in transactions with the Government of Venezuela, ...

On November 24, 2021, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Venezuela-related General License 8I.

On January 29, 2026, the U.S. Department of the Treasury Office of Foreign Assets Control ("OFAC") issued Venezuela General License 46 ("GL 46") authorizing certain commercial activities...

On March 24, 2025, President Trump issued an Executive Order (EO) authorizing the imposition of a 25 percent tariff on all goods imported into the United States from any country that directly or indirectly imports...

On March 24, 2025, President Trump issued an Executive Order (EO) authorizing the imposition of a 25 percent tariff on all goods imported into the United States from any country that directly or indirectly imports...

On March 31, 2019, Secretary of State Mike Pompeo announced a proposed Framework for a Peaceful Democratic Transition in Venezuela (The Framework).

On April 14, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Venezuela General License 56...

The recent arrest and arraignment of Venezuelan President Nicolás Maduro has profound legal and economic implications, particularly within the oil and gas sector.

The recent removal of President Maduro from Venezuela has triggered a flurry of political activity. However, the legal implications are also far-reaching, with important considerations for foreign investors.

On August 24, 2017, the White House issued an Executive Order (E.O. 13808) that restricts access to U.S. financing for the government of Venezuela and its state owned energy company...

On February 18, 2020, OFAC designated Rosneft Trading, S.A. (Rosneft Trading), a subsidiary of Russia-based Open Joint-Stock Company...

In the month since the U.S. took custody of Venezuelan President, Nicolas Maduro, the U.S. oil industry has been buzzing with rumors and speculation on what new opportunities may lie just south of the Caribbean.

The U.S. Treasury's Office of Foreign Assets Control has issued new general licenses that expand opportunities for contingent contracting with Venezuela's government and authorize limited financial services involving key Venezuelan banks.

On January 29, 2026, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) initiated a notable, but carefully tailored, easing of US sanctions targeting Venezuela's oil sector.

On January 9, 2026, U.S. President Trump signed an executive order ("Order") declaring a national emergency to protect certain Venezuelan government assets from judicial process.

Through a series of recently issued general licenses, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has relaxed its Venezuela Sanctions Regulations (VSR) to create a critical pathway for permitting investments in the country's oil and gas sector.