Bass, Berry & Sims attorney Thad McBride was quoted in an article in The Wall Street Journal's Risk & Compliance Journal outlining the latest U.S. sanctions against Venezuela. These sanctions target Venezuelan officials identified by the U.S. Department of Treasury to be involved in or aiding in human rights violations or public corruption, or impeding democracy. While only seven leaders have been identified in the initial announcement, Thad points out that these sanctions can be quickly expanded to include more officials as necessary. Thad recommends that companies with operations in Venezuela monitor the situation and have contingency plans in place under the assumption that the blacklist will expand.
The full article, "Venezuela Sanctions Portend Potential Risks to Companies," was published by The Wall Street Journal's Risk & Compliance Journal on March 12 and is available online (subscription required).