Venezuela - Sanctions Update - October 2022

Oil sector sanctions are likely to be lifted. Gold and individual sanctions will remain for the foreseeable future.

All signs are pointing to the Biden administration lifting sanctions against PDVSA and most of the rest of Venezuela’s oil sector in the coming months. Maybe it occurs before the end of 2022. Maybe it happens in the first half of 2023. Regardless of the timing, numerous media articles suggest it will happen.

We’re in an awkward moment for sanctions agai…