Venezuela Oil Sector Sanctions: Market and Trade Impacts [Updated February 11, 2019] [open pdf - 195KB]
"On January 28, 2019, the Trump Administration imposed sanctions on Venezuela's state-owned oil company, Petroleos de Venezuela, S.A. (PdVSA), adding to existing Venezuela sanctions. The Department of the Treasury determined that persons (e.g., individuals and companies) operating in Venezuela's oil sector are subject to sanctions in order to apply economic pressure on the government of Nicolas Maduro and facilitate a transition to democracy. Subsequently, Treasury's Office of Foreign Assets Control (OFAC) added PdVSA--including all entities in which PdVSA has a 50% or more ownership position--to its Specifically Designated Nationals (SDN) list."
CRS Insight, IN11037
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html