- Virtually all transactions with government prohibited
- Most transactions with private sector parties still permitted
- Practical challenges make Venezuela transactions difficult, including for non-U.S. parties
On August 5, 2019, President Trump issued Executive Order 13,884 (EO 13,884), which significantly expands existing U.S. sanctions on Venezuela.
Pursuant to EO 13,884, virtually all transactions with the government of Venezuela are now prohibited. There are some important exceptions to that prohibition, and those are discussed below.
While this is not an absolute embargo on Venezuela, it is quite close. And even when a transaction with Venezuela may be lawfully permitted, the practical challenges and the risk of conducting the transaction may make it nearly impossible to complete successfully.