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ARTICLE · 16 JANUARY 2026

Weekly Sanctions Update: January 12, 2026

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The Sanctions Update is compiled by Steptoe's International Trade and Regulatory Compliance team and Steptoe's Strategic Risk team.

United StatesInternational Law
Steptoe LLP
Steptoe LLP

The Sanctions Update is compiled by Steptoe's International Trade and Regulatory Compliance team and Steptoe's Strategic Risk team. You can subscribe to receive the Sanctions Update every week through Steptoe'sInternational Compliance BlogandStepwise Risk Outlookpublication home pages.

For more information or advice on any of the developments discussed below, please contact a member of our sanctions teamhere.

US Developments

US to Begin "Rolling Back" Select Sanctions on Venezuela

On Saturday, Treasury Secretary Scott BessenttoldReutersthat certain US sanctions on Venezuela could be lifted as soon as this week to facilitate oil sales. Secretary Bessent said that Treasury is "de-sanctioning the oil that is going to be sold," but did not specify which additional sanctions could be lifted. In addition, oil traders Vitol and Trafigura havereportedlysecured "preliminary special licenses" to negotiate and export Venezuelan crude oil. These reports follow aDepartmen

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