On 28 January 2019, the Department of Treasury’s Office of Foreign Assets Control (OFAC) designated Petróleos de Venezuela, S.A. (PdVSA) as a Specially Designated National (SDN) for operating in the oil sector of the Venezuelan economy pursuant to Executive Order (E.O.) 13850. This action follows the United States’ official recognition of the opposition-led government of interim President Juan Guaido. The designation of PdVSA severely limits permissible transactions with the state-owned oil company and signals a significant escalation of pressure on the Venezuelan government. Embattled President Nicolás Maduro has clung to power despite mounting diplomatic and economic pressure from the United States and other western governments.