The U.S. government’s announcements this summer regarding enforcement actions taken against a half-dozen individuals, including former Venezuelan officials, for allegedly corrupt acts in Venezuela seem to signal both continued turmoil in the country, ongoing risk in transacting business there and coordinated efforts by U.S. agencies in addressing the problems. Then, on August 5, 2019, President Trump issued blocking sanctions against Venezuela, complicating the landscape further. We take a look at recent developments in Venezuelan enforcement and analyze the risks for companies considering transacting business there. See our two-part series on recent anti-corruption enforcement in Venezuela: “What to Expect in the PDVSA Investigation and How Companies Should Respond” (May 1, 2019) and “U.S. Enforcement Efforts Against Venezuela State-Owned Oil Company PDVSA” (Apr. 17, 2019).