Venezuelan Sanctions

August 28, 2017 – 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, Petroleos de Venezuela, S.A. (PDVSA).  This is the most recent U.S. government action to ratchet up sanctions against Venezuela in response to President Nicolas Maduro's efforts to expand his power and suppress his political opposition. 

Summary

The sanctions do not generally bar transactions with the government of Venezuela or PDVSA.  They instead take a more targeted approach – similar to the U.S. sectoral sanctions against Russia – by prohibiting specific types of dealings (mostly financial transactions) in order to increase pressure on the ruling regime.  The U.S. government simultaneously offered some relief by carving out transactions with PDVSA's U.S. subsidiary CITGO Holding, Inc. ("CITGO"), food- and medicine-related transactions, and certain dealings in