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Lost or Expired Check Direct Express Card Non-Benefit Federal Payments Electronic Federal Benefit Payments - GoDirect Shop for Coin Products Shop for Currency Products  Redeem Damaged Currency Bureau of Engraving and Printing U.S Mint   IRS Auctions Real Estate General Property, Vehicles, Vessels & Aircraft Applications Frequently Asked Questions   Internal Revenue Service (IRS)  IRS Forms, Instructions & Publications Refund Status Foreign Account Tax Compliance Act IRS Forms and Instructions Savings Bonds - Treasury Securities Bank Secrecy Act - Fincen 114 and more OFAC License Application OFAC Reporting Treasury International Capital (TIC) Treasury Franchise Fund (TFF) Administrative Resource Center (ARC) Shared Services Program (SSP) Financial Management (FM) Marketplace Catalog TreasuryDirect Invoice Processing Platform Historic Treasury Building Library Curator Bureau of Engraving and Printing U.S. Mint Press Contacts Weekly Public Schedule Archive Webcasts Media Advisories Archive Subscribe to Press Releases WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four companies for operating in Venezuela’s oil sector and identified four associated oil tankers as blocked property.  These vessels, some of which are part of the shadow fleet serving Venezuela, continue to provide financial resources that fuel Maduro’s illegitimate narco-terrorist regime.  Maduro’s regime increasingly depends on a shadow fleet of worldwide vessels to facilitate sanctionable activity, including sanctions evasion, and to generate revenue for its destabilizing operations. Today’s action further signals that those involved in the Venezuelan oil trade continue to face significant sanctions risks. “President Trump has been clear: 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.”  On January 28, 2019, OFAC designated Venezuela’s state-run oil company, Petroleos de Venezuela, S.A. (PDVSA), pursuant to Executive Order (E.O.) 13850 for operating in the oil sector of the Venezuelan economy, and on August 5, 2019, President Trump took additional action to block PDVSA pursuant to E.O. 13884. Today’s sanctions complement other recent OFAC actions taken against the Maduro regime, including sanctions against PDVSA-linked officials, associates, and vessels on December 11 and December 19.  The following entities are being sanctioned today, and four vessels are being blocked for being property in which these entities have an interest: As a result of today’s action, all property and interests in property of the designated or blocked person described above 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, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.  Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.  Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons.  OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions.  In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons.  The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person.  The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law.  The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC’s guidance on Filing a Petition for Removal from an OFAC List. Click here for more information on the persons designated or the vessels identified as blocked property today. ###