The sanctions imposed by the Trump administration on Venezuela’s national oil conglomerate, Petroleos de Venezuela SA, are expected to impact companies and institutions well beyond the borders of the U.S. and Venezuela.

“Anybody outside of the U.S. can be sanctioned because the U.S. can take the view that it’s supporting” PDVSA, said Sanjay Mullick, international trade and national security partner at Kirkland & Ellis in Washington. “It indicates that the U.S. seeks to apply these sanctions extraterritoriality.”

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