Venezuela's Exit From U.S. Sanctions? Show Maduro the Door

Morrison & Foerster counsel Michael V. Dobson discussed sanctions against Venezuela’s state-owned oil giant, Petroleos de Venzuela SA in a Bloomberg article entitled “Venezuela's Exit From U.S. Sanctions? Show Maduro the Door.”  The Treasury Department said it would “consider lifting sanctions” on those who take concrete steps to “restore democratic order” in the country, as it imposed fresh penalties on five of Maduro’s close associates, including Venezuelan Oil Minister and PDVSA Chairman Manuel Quevedo.

According to Dobson, “Part of what makes for an effective sanctions program is having clear off-ramps so that people know what the behavior they need to change and exactly what they need to do.” The move sows distrust among Maduro’s closest aides, he added. “It’s a division tactic.”