The Office of Foreign Assets Control (OFAC), a part of the U.S. Department of the Treasury, has released a list of individuals, entities, and vessels now on their Specially Designated Nationals and Blocked Persons List. This action is based on OFAC's criteria, which show these parties meet specific legal standards and are connected with Venezuela's economic sectors, especially oil. The inclusion means all their U.S. assets are blocked, and U.S. persons are generally banned from doing business with them. The list includes people and companies from various countries such as Switzerland, Italy, Venezuela, and entities linked to the Venezuelan oil industry.
Simple Explanation
The U.S. Treasury made a list of people and companies that did something wrong with money, especially in Venezuela, and said that Americans can't do business with them anymore. They froze their U.S. assets and said if anyone needs to know more, they should look it up themselves.