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A man holds a sign that reads in Spanish "They attack for oil" during a march of in support of the state-run oil company PDVSA, in Caracas, Venezuela, Thursday, Jan. 31, 2019. The government called for a mass rally to denounce U.S. sanctions against PDVSA that could starve Maduro's government of billions in export revenue but turnout was no more than a few hundred people. (AP Photo/Ariana Cubillos) A man holds a sign that reads in Spanish “They attack for oil” during a march of in support of the state-run oil company PDVSA, in Caracas, Venezuela, Thursday, Jan. 31, 2019. The government called for a mass rally to denounce U.S. sanctions against PDVSA that could starve Maduro’s government of billions in export revenue but turnout was no more than a few hundred people. (AP Photo/Ariana Cubillos)

As some U.S. companies anticipate a coup in Venezuela, which could open the door for new business opportunities, others are screening their transactions for potential sanctions-related risks, according to international trade lawyers.

In January, the U.S. announced it would impose new sanctions on Venezuela’s state-owned oil company Petróleos de Venezuela SA, or PDVSA, the parent company of Citgo and several other subsidiaries, as part of an effort to pressure Venezuelan President Nicolas Maduro to resign. 

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Phillip Bantz

Phillip Bantz is a reporter for Corporate Counsel. Follow him on Twitter @PhillipBantz.

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