US Treasury Freezes Harry Sargent's BVI Oil Assets, Grants License to Exit Venezuela
Updated
Updated · APA · Aug 8
US Treasury Freezes Harry Sargent's BVI Oil Assets, Grants License to Exit Venezuela
2 articles · Updated · APA · Aug 8
Summary
August 7 sanctions froze the assets of Bluewave Properties Ltd., Harry Sargent’s British Virgin Islands company tied to Venezuelan oil projects, as Washington stepped up pressure on the businessman.
Bluewave holds a minority stake in North American Blue Energy Partners, Venezuela’s second-largest private oil producer after Chevron; some of NABEP’s crude is processed into asphalt for US road paving.
A Treasury license issued alongside the freeze allows Sargent to unwind and leave the business, indicating the move is aimed at forcing his withdrawal rather than halting operations outright.
Sargent had long served as an informal conduit between Washington and Caracas, with access to both Trump’s Palm Beach club and Nicolás Maduro’s circle, but that relationship soured after the operation to capture Maduro.