On December 19, the U.S. Department of the Treasury announced fresh sanctions on members of the Maduro-Flores family, accusing them of supporting Nicolas Maduro's government. Treasury Secretary Scott Bessent said these moves hit individuals "propping up Maduro's rogue narco-state" and show that the Trump administration is intensifying its pressure campaign.
Here's the lowdown:
- Targets: Relatives of Carlos Erik Malpica Flores—including his mother, father, sister, wife and daughter— were sanctioned over an alleged PDVSA corruption plot.
- Pressure tactics: Washington has built up military forces in the southern Caribbean, struck suspected drug vessels, seized a sanctioned oil tanker, and declared a blockade on Venezuelan tankers.
- Citgo license: A general license shielding Citgo Petroleum from creditors has been extended to February 3, 2026, protecting this U.S.-based refiner.
Why it matters: Citgo operates major refineries on U.S. soil, making it a key player in America's energy system. U.S. officials argue that defending Citgo isn't just about Venezuela—it's about preserving a strategic asset and keeping leverage over global oil markets.
In November, a U.S. judge approved the sale of shares in Citgo's parent company after a $5.9 billion bid by Elliott Investment Management. The sale, pending Treasury approval, is the final step in a two-year process to compensate creditors for PDVSA debts and expropriations.
With U.S. sanctions expanding and Citgo's fate in the balance, Venezuela's oil saga continues. Stay tuned as this oil telenovela unfolds! 🎭🛢️
Reference(s):
U.S. sanctions more individuals allegedly supporting Maduro's rule
cgtn.com
