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handle is hein.crs/goveniq0001 and id is 1 raw text is: Vn Con gression l Research Service nformfing Ih IegisIative debate sin co 1914 Venezuela: Overview of U.S. Sanctions Since 2005, the United States has imposed sanctions on Venezuelan individuals and entities that have engaged in criminal, antidemocratic, and/or corrupt actions. The Trump Administration expanded the scope of U.S. sanctions, moving beyond individually targeted sanctions to include broader financial sanctions, sectoral sanctions, and sanctions on the government of Nicolis Maduro. Despite those sanctions, which were associated with an economic collapse that has led 7.7 million Venezuelans to flee the country, Maduro consolidated power. The failure of international pressure to dislodge Maduro has led Venezuela's Unity Platform of opposition parties to shift strategies and compete in presidential elections due by October 2024. The Biden Administration has sought to leverage sanctions relief to incentivize Maduro to negotiate a path toward freer, fairer elections. After the October 17, 2023, signing of a partial electoral roadmap between Maduro and the Unity Platform, the Biden Administration issued licenses easing some sanctions on Venezuela through April 2024. U.S. officials warned, however, that if the Maduro government does not define an expedited process that allows all candidates to run for president and begin to release political prisoners and wrongfully detained U.S. citizens by late November 2023, the licenses can be revoked. Maria Corina Machado won the October 2022 opposition primary with 93% of the vote but is barred from running in the 2024 contest. Congress has helped shape U.S. sanctions policy toward Venezuela. Some in Congress oppose any easing of sanctions, whereas others are supportive only if the Maduro government complies with the electoral agreement. U.S. sanctions on Venezuela are described below. 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 2023. The United States has prohibited all U.S. commercial arms sales and retransfers to Venezuela since 2006. In 2008, pursuant to Executive Order (E.O.) 13224, the U.S. Treasury Department (Treasury) designated two individuals and two travel agencies in Venezuela as Specially Designated Nationals (SDNs) subject to asset blocking sanctions for financially supporting Hezbollah, a U.S.-designated Foreign Terrorist Organization. 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 Updated November 1, 2023 Venezuela has failed demonstrably to adhere to its obligations under international narcotics control agreements. President Biden made the determination for FY2024 in September 2023 but waived foreign aid restrictions. Treasury has imposed sanctions on at least 22 individuals and 27 companies with connections to Venezuela 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.). Designees include current and former officials. Targeted Sanctions Related to Antidemocratic Actions, Huran 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. President Obama issued E.O. 13692 to implement P.L. 113- 278 in March 2015, 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 November 1, 2023, Treasury had imposed SDN sanctions on more than 110 Venezuelans and at least eight entities pursuant to E.O. 13692. The targeted individuals include President Maduro, his wife, and his son; Vice President Delcy Rodriguez; Defense Minister Vladimir Padrino Lopez; supreme court judges; and governors. Additional Financial Sanctions President Trump imposed additional financial sanctions on Venezuela because of the government's human rights abuses and antidemocratic actions. In August 2017, President Trump issued E.O. 13808, which prohibited access to U.S. financial markets by the Venezuelan government, including state energy company Petr6leos de Venezuela, S.A. (PdVSA), with certain exceptions intended to minimize the impact on the Venezuelan people and U.S. interests. In March 2018, President Trump issued E.O. 13827 to prohibit transactions involving the Venezuelan government's issuance of digital currency, coin, or token. In May 2018, President Trump issued E.O. 13835, which

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