Bloomberg Quotes Jason Prince on the Future of U.S. Sanctions on Venezuela
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Akin international trade partner Jason Prince speaks to Bloomberg about the future of U.S. sanctions following Venezuela’s disputed presidential election. The article “US to Weigh Venezuela Vote Transparency on Future Sanctions” examines potential responses from the Biden administration as protests over the election’s outcome continue.
“It’s difficult to contemplate a scenario where there would be a dramatic escalation because there’s just so little room to ratchet sanctions pressure upward at this stage,” says Jason who served as former chief counsel for the U.S. Treasury’s Office of Foreign Assets Control. “There are going to be some difficult decisions to be made internally as to what steps can be taken, what messaging can be delivered” and how to work with partners also concerned about the validity of the elections he said.
Prior to the election, Jason told Energy Intelligence that disputed results would invite closer scrutiny from the U.S. along with the possibility of increased pressure to rollback certain sanctions relief measures. However, Jason added at the time, “I don’t think the Biden administration will have an appetite to revoke specific licenses that are helping to stabilize global energy markets, especially during an election year in the US.”
