OFAC action targets companies and tankers operating in sanctioned sectors.
The Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against four companies involved in Venezuela’s oil sector and identified four oil tankers as blocked property.
“We will not allow the illegitimate Maduro regime to profit from exporting oil while it floods the United States with deadly drugs,” said Secretary of the Treasury Scott Bessent. “The Treasury Department will continue to implement President Trump’s campaign of pressure on Maduro’s regime.”
Treasury officials said the entities and vessels were linked to oil shipments that provide revenue to Venezuela’s government in violation of U.S. sanctions. The action expands prior measures targeting Venezuela’s state-run oil company and related networks.
As a result of the designations, all property and financial interests of the sanctioned entities within U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions involving them without authorization. Treasury officials said the sanctions are intended to deter sanctions evasion and restrict access to international markets, while noting that OFAC maintains a formal process for petitioning removal from sanctions lists when legal criteria are met.
As the Lord Leads, Pray with Us…
- For Treasury Department officials enforcing economic sanctions and monitoring compliance.
- For international financial systems affected by sanctions enforcement and regulatory decisions.
- For diplomatic and economic efforts directed at reducing instability and unlawful activity.
Sources: Department of the Treasury
