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1 1 (May 23, 2022)

handle is hein.crs/govehnb0001 and id is 1 raw text is: Venezuela: Overview of U.S. Sanctions For over 15 years, the United States has imposed sanctions in response to activities of the Venezuelan government and Venezuelan individuals. The earliest sanctions imposed related to Venezuela's lack of cooperation on antidrug and counterterrorism efforts. The Obama Administration imposed targeted sanctions against individuals for human rights abuses, corruption, and antidemocratic actions. The Trump Administration expanded economic sanctions in response to the increasing authoritarianism of President Nicolas Maduro (in power since 2013). After recognizing Juan Guaid6, president of the democratically elected, opposition-led National Assembly, as interim president, the Trump Administration further tightened sanctions on Venezuela's state oil company (Petr6leos de Venezuela, S.A., or PdVSA), central bank, and government to pressure Maduro to leave power. As of May 23, 2022, the Treasury Department had imposed sanctions on roughly 166 Venezuelan or Venezuelan- connected individuals and the State Department had revoked the visas of more than 1,000 individuals and their families. Despite these actions, Maduro remains firmly in power. While Venezuela is benefitting from high oil prices due to the Ukraine conflict, sanctions on Russian banks have hurt its ability to access assets stored in those entities. The Biden Administration and the Venezuelan opposition are considering how potential U.S. sanctions relief could incentivize Maduro to negotiate a path toward free and fair elections. Rising U.S. oil prices also have put pressure on U.S. officials to find alternate sources to replace Russian oil. In 2021, Guaid6 and other opposition leaders formed a Unity Platform and began negotiations with Maduro officials; Maduro suspended these talks in October. After a March 2022 meeting with U.S. officials, Maduro released two detained Americans and pledged to restart negotiations with the opposition. In mid-May 2022, the Treasury Department reportedly slightly loosened restrictions on Chevron, the last major U.S. oil company operating in Venezuela, to discuss future operations with PdVSA. U.S. officials reportedly are considering other measures to encourage negotiations. Chevron reportedly has requested for its current Treasury license, which expires on June 1, 2022, to be expanded, so Chevron could increase oil production at its joint venture projects with PdVSA. It is reportedly unlikely that Treasury will do so. Terrorism-Related Sanctions Since 2006, the Secretary of State has made an annual determination that Venezuela is not cooperating fully with United States anti-terrorism efforts pursuant to Section 40A of the Arms Export Control Act (22 U.S.C. 2781). The most recent determination was made in May 2022. As a Updated May 23, 2022 result, the United States has prohibited all U.S. commercial arms sales and retransfers to Venezuela since 2006. In 2008, Treasury imposed financial sanctions on two individuals and two travel agencies in Venezuela for financially supporting the radical Lebanon-based Islamic Shiite group Hezbollah. Pursuant to Executive Order (E.O.) 13224, those sanctions relate to terrorist funding. Drug Trafficking-Related Sanctions Since 2005, pursuant to procedures in the Foreign Relations Authorization Act, FY2003 (P.L. 107-228, §706; 22 U.S.C. 2291j), the President has made an annual determination that Venezuela has failed demonstrably to adhere to its obligations under international narcotics agreements. President Biden made the determination for FY2022 in September 2021 but waived foreign aid restrictions for programs that support the interim government. Treasury has imposed economic sanctions on at least 22 individuals with connections to Venezuela and 27 companies by designating them as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (P.L. 106-120, Title VIII; 21 U.S.C. 1901 et seq.). Designated individuals include current and former Venezuelan officials, such as Oil Minister Tareck al Aissami. Should Al Aissami remain in that position, it could complicate efforts to lift oil sanctions. Targeted Sanctions Related to Antidemocratic Actions, Human Rights Violations, and Corruption In response to increasing repression in Venezuela, Congress enacted the Venezuela Defense of Human Rights and Civil Society Act of 2014 (P.L. 113-278; 50 U.S.C. 1701 note). Among its provisions, the law required the President to impose sanctions against those whom the President identified as responsible for significant acts of violence, serious human rights abuses, or antidemocratic actions. Congress extended this act through 2023 in P.L. 116-94. In March 2015, President Obama issued E.O. 13692 to implement P.L. 113-278, and Treasury issued regulations in July 2015 (31 C.F.R. Part 591). The E.O. targets (for asset blocking and visa restrictions) those involved in actions or policies undermining democratic processes or institutions; serious human rights abuses; prohibiting, limiting, or penalizing freedom of expression or peaceful assembly; and public corruption. It includes any person who is a current or former leader of any entity engaged in any of those activities, as well as current or former government officials. As of January 19, 2021, Treasury had imposed financial sanctions on 113 Venezuelans and at least eight entities pursuant to E.O. 13692. The targeted individuals have included President Maduro; his wife, Cilia Flores, and son, https ://crsreports .congr

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