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

Corruption has long been a "chronic and well-known problem" in the Venezuelan oil industry.1 In recent years, investigations—mostly led by U.S. authorities without assistance from their...

US-designated criminal organizations control Venezuela's mineral-rich Bolívar state, using illicit gold mining to evade sanctions and fund operations. Following Nicholas Maduro's capture, the US and new Venezuelan government are deploying military force and economic reforms to dismantle these networks, but success depends on breaking entrenched corruption while attracting legitimate foreign investment.

The recent change in administrations has generated much discussion about what to expect in the worlds of export controls and sanctions in 2021. In general, we expect many of the same priorities...

The removal of Nicolás Maduro is a major enforcement milestone, but it has not resulted in regime change in Venezuela. Instead, power has transferred to figures closely tied to the existing system, and U.S. policy appears focused on controlling economic flows rather than effectuating governance change or normalizing relations.