Oil Daily Quotes Jonathan Poling on Prospects for Venezuela Oil Sanctions

Akin Gump international trade partner Jonathan Poling has been quoted by Oil Daily for its article “Targeted Oil Sanctions for Venezuela May Be in Cards,” on the possibility that the Trump administration may impose targeted sanctions on that nation.

Poling, who was a federal prosecutor with the U.S. Department of Justice concentrating on violations of U.S. economic sanctions, noted that there does not appear to be an appetite for comprehensive sanctions, given European interests surrounding Venezuela.

Instead of a complete ban on imports of light crude or refined products, he said, it appear more likely that a tightening of extant sanctions, such as tighter restrictions on equity issuance or debt repayments, would be implemented.

Poling said that recent efforts by Venezuelan President Nicolás Maduro to exclude opponents from running against him are, in part, behind renewed U.S. interest in sanctions, but that growing concerns about Venezuela’s role in money laundering is also fueling consideration of this option.