Drilled Just Because the U.S. Says It's Legal Doesn't Make It So: Companies Trading in Illegally Seized Venezuelan Oil Face Legal Risk
Feb 9, 2026
Fernanda Hopenhaym, UN Working Group member and corporate human rights expert, breaks down legal pitfalls for firms tied to seized Venezuelan oil. She outlines how unilateral U.S. actions create legal gaps. She examines corporate supply-chain links, EU due diligence, crew and community rights, and the high risk of litigation and state accountability.
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Seizure Likely Breaches International Law
- The U.S. seizure of Venezuelan oil and tankers was done unilaterally and likely breaches the UN Charter and international law.
- Companies trading that oil risk being linked to an illegal action and facing international legal consequences.
Do Robust Due Diligence First
- Conduct thorough human rights and environmental due diligence before engaging with seized Venezuelan oil.
- Avoid deals that link your company to possible violations of international law or human rights abuses.
European Firms Face Extra Legal Pressure
- European companies face additional exposure under evolving EU due-diligence rules and national laws.
- Home states could warn or sanction firms that become complicit in international law breaches.