The Treasury Department placed a notice yesterday on its website announcing that the U.S. is restricting any U.S. firm from exporting diluents to Venezuela. Diluents are used to help enable Venezuela’s heavy oil to flow. The restrictions put international companies on notice of doing any diluent business with PDVSA, the Venezuelan national oil company.

From the U.S. Treasury Department - FAQ: 672
Can I export or reexport diluents to Venezuela?

No.

Diluents (including, for example, crude oil and naphtha) play a key role in the transportation and exportation of Venezuelan petroleum, a primary source of revenue for the illegitimate and corrupt Maduro regime, which the United States seeks to restrict further.

OFAC is amending ...


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