ARTICLE · 23 JANUARY 2026
Venezuela Update: Political Transition And Sanctions And AML Risk Overview
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.
VenezuelaInternational Law
Executive Summary
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. To date, U.S. actions signal selective,
tightly managed engagement—particularly in the energy
sector—while the broader sanctions framework remains firmly
in place. At the same time, Venezuela continues to present systemic
anti-money laundering (AML), corruption, and counterterrorism risk,
which materially constrains both economic viability and banking
access. Despite limited openings, the risk profile associated with
commercial activity in Venezuela remains elevated, and early or
inadequately structured engagements carry heightened enforcement
and reputational exposure.
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