The administration of US President Donald Trump has intensified its pressure on American businessman and oil billionaire Harry Sargeant III to force him to halt his investments in the Venezuelan oil sector.
Sources familiar with the matter told Bloomberg that the U.S. Treasury Department on Friday froze the assets of a company owned by Sargent and registered abroad, which is involved in oil production projects in Venezuela.
In a parallel move, the Treasury Department issued a license allowing Sargent to divest his interests in the company and exit his investments in it, according to sources who declined to be identified in order to discuss the procedure publicly.
A Trump administration official, who asked not to be identified to discuss internal deliberations, said that U.S. policy toward Venezuela is based on a three-phase approach: stabilization, recovery, and transition.
The official added that the administration will continue to encourage responsible and transparent investment in Venezuela, which will benefit both the United States and the Venezuelan people.
Sargent had used his connections to relay messages between the United States and Venezuela, and he also contributed to efforts that resulted in the release of American hostages in the country in 2025.
However, Trump emphasized that Sargent was not authorized to act on behalf of the U.S. government in any way.
The pressure on Sargent comes at a time when the Trump administration is seeking to reorganize its dealings with Venezuela’s oil sector, tightening controls on investments and activities related to the sector, as part of its policy toward Venezuela.
