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Venezuela: Overview of U.S. Sanctions

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Venezuela: Overview of U.S. Sanctions Updated July 5, 2019 Venezuela: Overview of U.S. Sanctions For more than a decade, the United States has employed State), and Ramón Rodríguez Chacín (former interior sanctions as a policy tool in response to activities of the minister); in 2011, Freddy Alirio Bernal Rosales and Venezuelan government and Venezuelan individuals. These Amilicar Jesus Figueroa Salazar (United Socialist Party of have included sanctions related to terrorism, drug Venezuela, or PSUV, politicians), Major General Cliver trafficking, trafficking in persons, antidemocratic actions, Antonio Alcalá Cordones, and Ramon Isidro Madriz human rights violations, and corruption. Currently, the Moreno (a Venezuelan intelligence officer); in 2017, then- Treasury Department has financial sanctions on 115 Vice President Tareck el Aissami; and in May 2018, Pedro individuals, and the State Department has revoked the visas Luis Martin (a former senior intelligence official) and two of hundreds of individuals. On January 28, 2019, the Trump associates. Others designated include drug trafficker Walid Administration announced sanctions on Venezuela’s state- Makled, three dual Lebanese-Venezuelan citizens allegedly oil company, Petróleos de Venezuela, S.A. (PdVSA). Prior involved in a drug money-laundering network, and several to the imposition of the PdVSA sanctions, the United States Colombian drug traffickers with activity in Venezuela. recognized Juan Guaidó, the head of Venezuela’s National Assembly, as the country’s interim president and ceased to Targeted Sanctions Related to Antidemocratic recognize Nicolás Maduro as the president of Venezuela. Actions, Human Rights Violations, and Corruption In response to increasing repression in Venezuela, Congress Terrorism-Related Sanctions enacted the Venezuela Defense of Human Rights and Civil Since 2006, U.S. officials have expressed concerns about Society Act of 2014 (P.L. 113-278; 50 U.S.C. 1701 note) in Venezuela’s lack of cooperation on antiterrorism efforts. December 2014. Among its provisions, the law requires the Since then, the Secretary of State has made an annual President to impose sanctions (asset blocking and visa determination that Venezuela is not “cooperating fully with restrictions) against those whom the President determines United States anti-terrorism efforts” pursuant to Section are responsible for significant acts of violence or serious 40A of the Arms Export Control Act (22 U.S.C. 2781). The human rights abuses associated with protests in February most recent determination was made in May 2019. As a 2014 or, more broadly, against anyone who has directed or result, the United States has prohibited all U.S. commercial ordered the arrest or prosecution of a person primarily arms sales and retransfers to Venezuela since 2006. because of the person’s legitimate exercise of freedom of expression or assembly. In 2016, Congress extended the In 2008, the Treasury Department imposed sanctions (asset 2014 act through 2019 in P.L. 114-194. freezing and prohibitions on transactions) on two individuals and two travel agencies in Venezuela for In March 2015, President Obama issued E.O. 13692 to providing financial support to the radical Lebanon-based implement P.L. 113-278, and the Treasury Department Islamic Shiite group Hezbollah. The action was taken issued regulations in July 2015 (31 C.F.R. Part 591). The pursuant to Executive Order (E.O.) 13224, aimed at E.O. targets (for asset blocking and visa restrictions) those impeding terrorist funding. involved in actions or policies undermining democratic processes or institutions; those involved in acts of violence Drug Trafficking-Related Sanctions or conduct constituting a serious human rights abuse; those U.S. concerns about the lack of Venezuelan cooperation on taking actions that prohibit, limit, or penalize the exercise counternarcotics efforts date back to 2005. Since then, the of freedom of expression or peaceful assembly; public President has made an annual determination, pursuant to corruption by senior Venezuelan officials; and any person procedures set forth in the Foreign Relations Authorization determined to be a current or former leader of any entity Act, FY2003 (P.L. 107-228, §706; 22 U.S.C. 2291j), that engaged in any activity described above or a current or Venezuela has failed demonstrably to adhere to its former official of the government of Venezuela. obligations under international narcotics agreements. President Trump made the most recent determination for Currently, the Treasury Department has financial sanctions FY2019 in September 2018, but also waived foreign aid on 85 Venezuelans pursuant to E.O. 13692. Under the restrictions for programs to support democracy promotion. Obama Administration, the Treasury Department froze the assets of seven Venezuelans—six members of Venezuela’s The Treasury Department has imposed economic sanctions security forces and a prosecutor who repressed protesters. on at least 22 individuals with connections to Venezuela Under the Trump Administration, the Treasury Department and 27 companies by designating them as Specially currently has sanctions on an additional 78 Venezuelan Designated Narcotics Traffickers pursuant to the Foreign government and military officials. These officials include Narcotics Kingpin Designation Act (Kingpin Act; P.L. 106- President Nicolás Maduro and his wife, Cecilia Flores; 120, Title VIII; 21 U.S.C. 1901 et seq.). Executive Vice President Delcy Rodriguez; PSUV First Designated individuals include several current or former Vice President Diosdado Cabello; eight Supreme Court Venezuelan officials: in 2008, General Hugo Carvajal members; the leaders of Venezuela’s army, national guard, (former military intelligence head), General Henry Rangel and national police; four state governors; the director of the Silva (former defense minister and governor of Trujillo Central Bank of Venezuela; and the foreign minister. On https://crsreports.congress.gov Venezuela: Overview of U.S. Sanctions May 7, 2019, the Treasury Department lifted sanctions U.S. currency and limit its ability to conduct international against the head of Venezuela’s intelligence service, financial transactions. On July 3, the Treasury Department General Manuel Cristopher Figuera, who broke ranks with removed sanctions on one of the shipping companies and 8 Maduro. On June 28, 2019, the Treasury Department of its vessels sanctioned in April after the company cut ties sanctioned Maduro’s son, Nicolas Maduro Guerra, a with the Maduro government, but Treasury designated member of the illegitimate Constituent Assembly. Cuba’s state-run oil import and export company. Broader Sanctions on the Oil and Gold Sectors Additional Financial Sanctions On November 1, 2018, President Trump issued E.O. 13850, In addition to targeted sanctions, President Trump has setting forth a framework to block the assets of, and imposed financial sanctions on Venezuela through three prohibit certain transactions with, any person determined by additional E.O.s because of the government’s serious the Secretary of the Treasury, in consultation with the human rights abuses, antidemocratic actions, and Secretary of State, to operate in the gold sector (or any responsibility for the deepening humanitarian crisis. In other sector of the economy as determined in the future by August 2017, he issued E.O. 13808, which prohibits access the Secretary of the Treasury) or to be responsible for or to the U.S. financial markets by the Venezuelan complicit in transactions involving deceptive practices or government, including PdVSA, with certain exceptions to corruption and the Venezuelan government. Currently, six minimize the impact on the Venezuelan people and U.S. individuals are sanctioned pursuant to E.O. 13850: five economic interests. The sanctions restrict the Venezuelan were sanctioned in January 2019 for involvement in a government’s access to U.S. debt and equity markets. corruption scheme involving Venezuela’s currency exchange practices that generated more than $2.4 billion in In March 2018, President Trump issued E.O. 13827 to corrupt proceeds; the president of Venezuela’s state gold prohibit transactions involving the Venezuelan mining company was sanctioned in March 2019. government’s issuance of digital currency, coin, or token. The Maduro government launched a cryptocurrency known On January 28, 2019, pursuant to E.O. 13850, the Treasury as the petro in 2018 in an effort to circumvent sanctions. Department designated PdVSA as operating in the oil sector of the Venezuelan economy, and Secretary of the Treasury In May 2018, President Trump issued E.O. 13835, which Steven Mnuchin determined that the company was subject prohibits transactions related to the purchase of Venezuelan to U.S. sanctions. As a result, all property and interests in debt, including accounts receivable, and to any debt owed property of PdVSA subject to U.S. jurisdiction are blocked, to Venezuela pledged as collateral. The action intended to and U.S. persons generally are prohibited from engaging in deny corrupt Venezuelan officials the ability to improperly transactions with the company. value and sell off public assets in return for kickbacks. Policy Considerations At the same time, OFAC issued general licenses to allow Although Venezuelan oil exports to the United States certain transactions and activities related to PdVSA and its already had been declining, sanctions on that trade are subsidiaries, some within specified time frames or wind- requiring U.S. refineries that process
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