Blocking Property of Additional Persons Contributing to the Situation in Venezuela

Nov 2, 2018

Summary

Blocks the property and suspends U.S. entry for people who support the corrupt Venezuelan government, especially those in its gold sector.

What problem does this solve?

The Venezuelan government is accused of stealing the country's wealth and causing a crisis for its people. This order blocks the U.S. assets of and travel by those involved to pressure the regime.

What does this order do?

Blocks property of persons in key Venezuelan economic sectors

Freezes all U.S. property and assets of anyone determined to be operating in Venezuela's gold sector or any other sector identified by the Treasury Secretary.

Sanctions persons involved in government corruption

Blocks the U.S. property of anyone responsible for or involved in corruption related to the Government of Venezuela, including their immediate adult family members.

Suspends U.S. entry for sanctioned individuals

Bans anyone whose property is blocked under this order from entering the United States, either as an immigrant or nonimmigrant.

Prohibits donations to sanctioned persons

Forbids making donations of articles like food, clothing, and medicine to any person whose property is blocked by this order.

Blocks property of those who provide support

Freezes the assets of any person or company that has materially assisted or provided financial or technological support to those already sanctioned under this order.

Who does this affect?

Venezuelan government officials and associates
Individuals and companies in Venezuela's gold sector
U.S. persons with financial ties to sanctioned individuals

What is the real world impact?

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Applies economic pressure on the Venezuelan government

Aims to stop corrupt officials from using the U.S. financial system by freezing their assets and banning them from the country. This is a tool to encourage political change in Venezuela.

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Restricts a key source of government funding

Targets Venezuela's gold sector specifically, which the Maduro regime uses to fund its activities after the oil industry declined. This makes it harder for the government to get money.

When does this start?

This order became effective on November 1, 2018.