On January 10, 2025, the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) designated eight Venezuelan officials who hold key leadership positions in economic and security agencies, the military, and police in Venezuela. OFAC has alleged that these individuals have enabled “Nicolas Maduro’s repression and subversion of democracy in Venezuela” and carried out “Maduro’s repression and human rights abuses against democratic actors.” The action was taken pursuant to E.O. 13692, as amended, which sanctions individuals for being a current or former official of the Government of Venezuela.
OFAC’s sanctions were taken in conjunction with similar designations by Canada, the European Union, and the United Kingdom in order to elevate international efforts to maintain pressure on Maduro and his representatives.
Sanctions on Venezuelan Officials from State-Owned Entities and Ministries
- OFAC designated three individuals, including the Minister of Transportation, the vice minister of Interior Policy and Legal Security of the Interior Ministry, and the president of Petroleos de Venezuela, S.A. (PdVSA), Venezuela’s state-owned oil company and a primary source of Venezuela’s income and foreign currency.
Sanctions on Venezuelan Police and Military Officials
- OFAC designated five individuals, including the vice minister of the Integrated System of Penal Investigations of the Interior Ministry, the director of the Scientific, Penal, and Criminal Investigations Corps (CICPC, its Spanish acronym), the deputy director of the CICPC, the deputy commander of the Strategic Operations Command of the National Bolivarian Armed Forces of Venezuela, and the commander of the Integral Defense Zone for the Venezuelan capital district.
As a result of these designations, all property and interests in property of these SDNs that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50% or more by one or more of these SDNs are also blocked. Furthermore, non-U.S. persons could risk secondary sanctions liability by engaging in certain transactions with these SDNs.
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