Sanctions relief in Venezuela may create new opportunities, but it does not lessen the cost of compliance failures.

In this episode of "Global Markets, Policy and Power," Partners Stephanie Connor and Andres Fernandez examine how the Office of Foreign Assets Control's (OFAC) 2026 Venezuela general licenses are operating in practice for companies and financial institutions, with a focus on due diligence, bank risk tolerance and the limits of what the authorizations permit. They underscore that even when transactions are authorized, institutions still need detailed documentation, updated risk assessments and a clear record of reasonable reliance. Sanctions remain in place, Foreign Terrorist Organization (FTO) designations still apply and enforcement exposure can escalate quickly.

Venezuela's evolving geopolitical landscape presents both risks and opportunities for investors, but how can companies effectively assess them? In the debut episode of the "Global Markets, Policy and Power" podcast, Holland & Knight Chief International Officer George Mencio, Senior Policy Advisor Beth Viola and Partner Ambassador Nathan Sales examine the country's shifting political and economic environment following Nicolás Maduro's removal. The discussion explores what has materially changed, what remains uncertain and how U.S. policy, sanctions relief and diplomatic engagement are shaping Venezuela's next chapter. From energy and mining reforms to political transition and investment risk, the episode offers a practical, big-picture perspective on the developments businesses and investors should be watching closely.