U.S. Treasury Targets Sargeant's Venezuelan Oil Deals
Washington has taken action against Florida billionaire Harry Sargeant's involvement in Venezuelan oil production. The Treasury Department blocked assets tied to Bluewave Properties Ltd., a company connected to Sargeant, for violating a 2018 order that froze property belonging to those who backed the previous government.
The move affects North American Blue Energy Partners (NABEP), in which Bluewave owns a minority share. NABEP is the second-largest private oil producer in Venezuela after Chevron.
Sargeant, a former U.S. Marine pilot and Florida oil businessman, had previously served as a go-between for Washington and Caracas. He drew White House disapproval when he lost influence with the new U.S.-backed president in Caracas.
The Treasury's action aims to push Sargeant out of Venezuelan oil deals, which could have implications for road-building costs, energy markets, and investors connected to oil stocks.