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1 1 (April 24, 2024)

handle is hein.crs/govepxn0001 and id is 1 raw text is: Venezuela: Overview of U.S. Sanctions Policy Since 2005, the United States has imposed targeted sanctions on Venezuelan individuals and entities that have engaged in criminal, antidemocratic, or corrupt actions. In response to increasing human rights abuses and corruption by the government of NicolAs Maduro, in power since 2013, the Trump Administration expanded U.S. sanctions to include financial sanctions, sectoral sanctions, and sanctions on the government. Those sanctions and other international pressure failed to dislodge Maduro and exacerbated an ongoing economic and humanitarian crisis caused by government mismanagement and corruption that has prompted 7.7 million Venezuelans to flee the country. After the Venezuelan opposition united to run against Maduro in elections due in 2024, the Biden Administration offered sanctions relief to incentivize the Maduro government to enable a free and fair electoral process. By April 2024, however, the Administration had rolled back most sectoral sanctions relief due to Maduro officials' antidemocratic actions that violated an October 2023 Maduro-opposition electoral agreement. The 118th Congress is closely monitoring the electoral process in Venezuela, as well as U.S. policy responses, and could seek to modify U.S. sanctions policy. Unless otherwise noted, information in this product is from the Department of the Treasury's Office of Foreign Assets Control (OFAC). The product does not discuss foreign aid restrictions. Visa Restrictions Since FY2018, the State Department has imposed visa restrictions related to corruption or human rights abuses pursuant to Section 7031(c) of annual Department of State, Foreign Operations, and Related Programs appropriations acts on 14 Venezuelans. The State Department also has privately revoked the visas of Venezuelans, including those of current Venezuelan officials and their families. Terrorism-Re ated Sanctions Since 2006, the Secretary of State has made an annual determination (most recently in May 2023) 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 United States has prohibited all U.S. commercial arms sales and retransfers to Venezuela. U.S. Department of Commerce export controls related to Venezuela affect dual-use technology, including expanded restrictions since mid-2020 on sales to military end users. In 2008, pursuant to Executive Order (E.O.) 13224, the U.S. Department of the 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. Updated April 24, 2024 Drug Trafficking-Re ated Sanctions Treasury has imposed asset blocking sanctions on 11 individuals and 25 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, as amended; 21 U.S.C. §§1901 et seq.). Targeted Sanctions Related to Antidemocratic Actons, Human Rights V olations, 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 on those the President identified as responsible for significant acts of violence, serious human rights abuses, or antidemocratic actions. Congress extended these sanctions authorizations 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. Although the sanctions authorities in P.L. 116-94 expired in December 2023, the President still has the authority to impose them under E.O. 13692. Treasury has imposed SDN sanctions on roughly 115 Venezuelans and at least eight entities pursuant to E.O. 13692. Those individuals include President Maduro, his wife, and his son; Vice President Delcy Rodrfguez; Defense Minister Vladimir Padrino Lopez; supreme court judges; and governors. The Biden Administration has not designated any new individuals or entities to date. Additiona' Financial Sanctions President Trump imposed additional financial sanctions on Venezuela in response to 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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