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Press Briefing by Press Secretary Sarah Sanders
Press Release:
James S. Brady Press Briefing Room • January 28, 2019 • 3:32 P.M. EST
SANDERS: Good afternoon. Missed you guys. Under President Trump's leadership, the United States economy is growing at record levels, putting the President in a strong position to fix longstanding trade concerns with China.
On Thursday, the President will meet with the Chinese Vice Premier who is here this week for continued talks.
President Trump is committed to achieving greater market access for U.S. exports and better treatment for our farmers, ranchers, and businesses. Fair and reciprocal trade with China will boost long-term economic growth, not only in the United States but globally.
As the President said last week, the United States proudly stands with the people of Venezuela who have courageously spoken out against the corrupt and illegitimate regime of Nicolas Maduro. Maduro must do what's right and allow for free, fair, and credible elections in accordance with democratic principles.
To speak more about U.S. policy towards Venezuela and to take your questions, I'd like to welcome to the podium National Security Advisor Ambassador John Bolton, Secretary of the Treasury Steven Mnuchin, and Director of the National Economic Council Larry Kudlow.
And after that, I'll be up to take other questions of the day. Thanks, guys.
AMBASSADOR BOLTON: Thank you very much, Sarah. As you know, on January the 23rd, President Trump officially recognized the President of the Venezuelan National Assembly, Juan Guaidó, as the Interim President of Venezuela. Venezuela's National Assembly invoked Article 233 of the country's constitution to declare Nicolas Maduro illegitimate. This action was a statement that the people of Venezuela have had enough of oppression, corruption, and economic hardship.
Since then, 21 other governments in the region and across the world have joined the United States in recognizing Guaidó as Venezuela's Interim President.
Today - and I'll turn the podium over to Steven Mnuchin for this purpose - we're going to announce sanctions against Petróleos de Venezuela Sociedad Anónima, or PDVSA, as it's known by its Spanish acronym, the state-owned oil monopoly.
We have continued to expose the corruption of Maduro and his cronies, and today's action ensures they can no longer loot the assets of the Venezuelan people. We expect - and Secretary Mnuchin will go into this in more detail - that today's measure totals $7 billion in assets blocked today, plus over $11 billion in lost export proceeds over the next year.
We also today call on the Venezuelan military and security forces to accept the peaceful, democratic, and constitutional transfer of power. And to a certain extent, this has already begun. We have seen Venezuelan official and military personnel heeding this call. The Venezuelan defense attaché here in Washington recognized President Guaidó a few days ago. And just within the past hours, the first consul of Venezuela's consulate in Miami, Scarlet Salazar, has also declared for Interim President Guaidó.
I call on all responsible nations to recognize Interim President Guaidó immediately. Maduro has made clear he will not recognize Guaidó or call for new elections. Now is the time to stand for democracy and prosperity in Venezuela.
I reiterate that the United States will hold Venezuelan security forces responsible for the safety of all U.S. diplomatic personnel, the National Assembly, and President Guaidó. Any violence against these groups would signify a grave assault on the rule of law and will be met with a significant response.
Now let me give the floor to Steven Mnuchin, who will describe the sanctions that we're imposing.
SECRETARY MNUCHIN: Thank you. Today, Treasury took action against Venezuela's state-owned oil company, PDVSA, to help prevent the further diversion of Venezuela's assets by former President Maduro.
The United States is holding accountable those responsible for Venezuela's tragic decline. We will continue to use all of our diplomatic and economic tools to support Interim President Guaidó, the National Assembly, and the Venezuelan people's
...efforts to restore their democracy.
PDVSA has long been a vehicle for embezzlement, for corruption for Venezuelan officials and businessmen. Today's designation of PDVSA will help prevent further diversion of Venezuela's assets by Maduro, and will preserve these assets for the people of Venezuela where they belong.
The path to sanctions relief for PDVSA is through the expeditious transfer of control to the Interim President or a subsequent democratically elected government who is committed to taking concrete and meaningful actions to combat corruption.
Today's actions against PDVSA follows my determination that persons operating in the Venezuelan oil sector may now be subject to sanctions. Today, OFAC also issued a number of general licenses that authorize certain transactions in activities with PDVSA for limited periods of time to minimize any immediate disruptions and support of ongoing humanitarian efforts.
Citgo assets in the United States will be able to continue to operate, provided that any funds that would otherwise go to PDVSA instead will go into a blocked account in the United States.
Refineries in the United States have already been taking steps to reduce their reliance on imports from Venezuela. Those imports have fallen substantially in recent months.
We have also issued general licenses to ensure that certain European and Caribbean countries can make an orderly transition. We continue to call on all of our allies and partners to join the United States in recognizing Interim President Guaidó and blocking Maduro from being able to access PDVSA funds.
Thank you. With that - and I'd be happy to answer some questions.
Q Ambassador Bolton, if I could, you've mentioned the words "significant response." How do you define "significant response"?
AMBASSADOR BOLTON: Well, we're not going to define it because we want the Venezuelan security forces to know how strongly we think that President Guaidó, the National Assembly, the opposition and, most importantly, American personnel are not harmed. This is an unequivocal statement on our part.
Q Is there any circumstance under which American forces would get involved?
AMBASSADOR BOLTON: Look, the President has made it very clear on this matter that all options are on the table.
Q Thank you, Mr. Secretary. You explained that there are some actions being taken here to mitigate some of the impact on the U.S. oil market. Can you walk us through those and explain how U.S. oil imports from Venezuela will be affected, and what's going to happen with the money, and where you think that is going to have some impact on the oil market globally?
SECRETARY MNUCHIN: Sure. Well, let me just comment that we will be releasing FAQs with the general licenses to explain a lot of these issues. But effective immediately, any purchases of Venezuelan oil by U.S. entities money will have to go into blocked accounts.
Now, I've been in touch with many of the refineries. There is a significant amount of oil that's at sea that's already been paid for. That oil will continue to come to the United States. If the people in Venezuela want to continue to sell us oil, as long as that money goes into blocked accounts, we'll continue to take it. Otherwise, we will not be buying it.
And again, we have issued general licenses so the refineries in the United States can continue to operate. So I expect, in the short term, very modest impacts on the U.S. refineries. We've been working with them closely on these issues.
Q Did you walk the U.S. oil industries through what's going to happen here in advance, or are they hearing about this for the first time right now?
SECRETARY MNUCHIN: They're hearing about this now. But, you know, I generally say, we had - obviously, we made a press release recently. I think we've indicated certain things. So we had not disclosed to anybody these sanctions in advance, but I think a lot of people have been preparing for this over the last month.
Q With the blocked accounts, what would be the mechanism and what would be the timeline if there is this peaceful transfer of government? How would the money go from the blocked accounts back? And Juan Guaidó would be the operating person to take it back and receive it back if he's put into power? What's the mechanism there?
SECRETARY MNUCHIN: So let me just comment that, in general, okay, as we've said in the past, the purpose of sanctions is to change behavior. So when there is a recognition that PDVSA is the property of the rightful rulers - the rightful leaders, the President - then indeed that money will be available to Guaidó. We will be working with them on the money in the blocked account and whether that can be used for them.
Q Could you explain to the country what the strategic interests of the United States are in Venezuela now and its immediate future? What's at stake for us? And why the significant response held in abeyance if this transfer of government isn't achieved?
AMBASSADOR BOLTON: Well, we think stability and democracy in Venezuela ...Well, we think stability and democracy in Venezuela are in the direct national interest of the United States. Right now, under the Chavez-Maduro government, civil society in Venezuela is disintegrating. The economy is in a state of collapse. Something in the range of three to four million refugees have already fled the country for neighboring countries and the United States.
nd the authoritarian regime of Chavez and Maduro has allowed penetration by adversaries of the United States, not least of which is Cuba. Some call the country now
"Cuba-zuela," reflecting the grip that Cuba's military and security forces have on the Maduro regime. We think that's a strategic significant threat to the United States, and there are others as well, including Iran's interest in Venezuela's uranium deposits.
SECRETARY MNUCHIN: Yeah, and let me just comment. This is a country that is very rich in oil resources. There is no reason why these resources shouldn't be used for the economic benefit of the people there. There's no reason for the poverty and the starvation and the humanitarian crisis.
Q Can I ask both of you - the United States has talked a lot about a potential embargo on sales of oil and also stopping selling of oil products to Venezuela. Why haven't those been considered yet?
SECRETARY MNUCHIN: So there will be, as part of this, limitations on selling oil products as part of the sanctions. As regards to an embargo, we're not going to make any comment on that today. We don't comment on future actions.
Q Thank you, Mr. Secretary. Mr. Maduro seemed to anticipate the actions that you've announced today in the briefing room. He warned that Citgo is the property of the Venezuelan state, and he further said that we are the only ones who can decide its fate. What is your response to Mr. Maduro?
SECRETARY MNUCHIN: Again, it's the property of the Venezuelan people and the proper and rightful leaders of the country. So we agree with that. He's not the proper leader of the country at this time. And I've said these are valuable assets that we are protecting for the benefit of the Venezuelan people.
Q Mr. Secretary, if I could hone in on the question about the impact of the markets. Eamon asked you about refineries; you said it will have a modest impact. But what do American drivers need to know about the possible effect at the price of the pump, if any at all?
SECRETARY MNUCHIN: Well, first, let me say, you know, there's been a big reduction in the overall price of oil and particularly since we instituted the Iran sanctions. I think you know we've been very careful in making sure that these costs don't impact the American consumer. Gas prices are almost as low as they've been in a very long period of time. These refineries impact a specific part of the country. And I think, as you've said, we're very comfortable that they have enough supply that we don't expect any big impact in the short term.
Q Do you feel that that fact emboldens your position? Or do you feel the United States is able to take these measures as a result of the low gas prices or low oil prices on the whole? And does that - will increase the United States' leverage in this debate?
Go Back
James S. Brady Press Briefing Room • January 28, 2019 • 3:32 P.M. EST
SANDERS: Good afternoon. Missed you guys. Under President Trump's leadership, the United States economy is growing at record levels, putting the President in a strong position to fix longstanding trade concerns with China.
On Thursday, the President will meet with the Chinese Vice Premier who is here this week for continued talks.
President Trump is committed to achieving greater market access for U.S. exports and better treatment for our farmers, ranchers, and businesses. Fair and reciprocal trade with China will boost long-term economic growth, not only in the United States but globally.
As the President said last week, the United States proudly stands with the people of Venezuela who have courageously spoken out against the corrupt and illegitimate regime of Nicolas Maduro. Maduro must do what's right and allow for free, fair, and credible elections in accordance with democratic principles.
To speak more about U.S. policy towards Venezuela and to take your questions, I'd like to welcome to the podium National Security Advisor Ambassador John Bolton, Secretary of the Treasury Steven Mnuchin, and Director of the National Economic Council Larry Kudlow.
And after that, I'll be up to take other questions of the day. Thanks, guys.
AMBASSADOR BOLTON: Thank you very much, Sarah. As you know, on January the 23rd, President Trump officially recognized the President of the Venezuelan National Assembly, Juan Guaidó, as the Interim President of Venezuela. Venezuela's National Assembly invoked Article 233 of the country's constitution to declare Nicolas Maduro illegitimate. This action was a statement that the people of Venezuela have had enough of oppression, corruption, and economic hardship.
Since then, 21 other governments in the region and across the world have joined the United States in recognizing Guaidó as Venezuela's Interim President.
Today - and I'll turn the podium over to Steven Mnuchin for this purpose - we're going to announce sanctions against Petróleos de Venezuela Sociedad Anónima, or PDVSA, as it's known by its Spanish acronym, the state-owned oil monopoly.
We have continued to expose the corruption of Maduro and his cronies, and today's action ensures they can no longer loot the assets of the Venezuelan people. We expect - and Secretary Mnuchin will go into this in more detail - that today's measure totals $7 billion in assets blocked today, plus over $11 billion in lost export proceeds over the next year.
We also today call on the Venezuelan military and security forces to accept the peaceful, democratic, and constitutional transfer of power. And to a certain extent, this has already begun. We have seen Venezuelan official and military personnel heeding this call. The Venezuelan defense attaché here in Washington recognized President Guaidó a few days ago. And just within the past hours, the first consul of Venezuela's consulate in Miami, Scarlet Salazar, has also declared for Interim President Guaidó.
I call on all responsible nations to recognize Interim President Guaidó immediately. Maduro has made clear he will not recognize Guaidó or call for new elections. Now is the time to stand for democracy and prosperity in Venezuela.
I reiterate that the United States will hold Venezuelan security forces responsible for the safety of all U.S. diplomatic personnel, the National Assembly, and President Guaidó. Any violence against these groups would signify a grave assault on the rule of law and will be met with a significant response.
Now let me give the floor to Steven Mnuchin, who will describe the sanctions that we're imposing.
SECRETARY MNUCHIN: Thank you. Today, Treasury took action against Venezuela's state-owned oil company, PDVSA, to help prevent the further diversion of Venezuela's assets by former President Maduro.
The United States is holding accountable those responsible for Venezuela's tragic decline. We will continue to use all of our diplomatic and economic tools to support Interim President Guaidó, the National Assembly, and the Venezuelan people's
...efforts to restore their democracy.
PDVSA has long been a vehicle for embezzlement, for corruption for Venezuelan officials and businessmen. Today's designation of PDVSA will help prevent further diversion of Venezuela's assets by Maduro, and will preserve these assets for the people of Venezuela where they belong.
The path to sanctions relief for PDVSA is through the expeditious transfer of control to the Interim President or a subsequent democratically elected government who is committed to taking concrete and meaningful actions to combat corruption.
Today's actions against PDVSA follows my determination that persons operating in the Venezuelan oil sector may now be subject to sanctions. Today, OFAC also issued a number of general licenses that authorize certain transactions in activities with PDVSA for limited periods of time to minimize any immediate disruptions and support of ongoing humanitarian efforts.
Citgo assets in the United States will be able to continue to operate, provided that any funds that would otherwise go to PDVSA instead will go into a blocked account in the United States.
Refineries in the United States have already been taking steps to reduce their reliance on imports from Venezuela. Those imports have fallen substantially in recent months.
We have also issued general licenses to ensure that certain European and Caribbean countries can make an orderly transition. We continue to call on all of our allies and partners to join the United States in recognizing Interim President Guaidó and blocking Maduro from being able to access PDVSA funds.
Thank you. With that - and I'd be happy to answer some questions.
Q Ambassador Bolton, if I could, you've mentioned the words "significant response." How do you define "significant response"?
AMBASSADOR BOLTON: Well, we're not going to define it because we want the Venezuelan security forces to know how strongly we think that President Guaidó, the National Assembly, the opposition and, most importantly, American personnel are not harmed. This is an unequivocal statement on our part.
Q Is there any circumstance under which American forces would get involved?
AMBASSADOR BOLTON: Look, the President has made it very clear on this matter that all options are on the table.
Q Thank you, Mr. Secretary. You explained that there are some actions being taken here to mitigate some of the impact on the U.S. oil market. Can you walk us through those and explain how U.S. oil imports from Venezuela will be affected, and what's going to happen with the money, and where you think that is going to have some impact on the oil market globally?
SECRETARY MNUCHIN: Sure. Well, let me just comment that we will be releasing FAQs with the general licenses to explain a lot of these issues. But effective immediately, any purchases of Venezuelan oil by U.S. entities money will have to go into blocked accounts.
Now, I've been in touch with many of the refineries. There is a significant amount of oil that's at sea that's already been paid for. That oil will continue to come to the United States. If the people in Venezuela want to continue to sell us oil, as long as that money goes into blocked accounts, we'll continue to take it. Otherwise, we will not be buying it.
And again, we have issued general licenses so the refineries in the United States can continue to operate. So I expect, in the short term, very modest impacts on the U.S. refineries. We've been working with them closely on these issues.
Q Did you walk the U.S. oil industries through what's going to happen here in advance, or are they hearing about this for the first time right now?
SECRETARY MNUCHIN: They're hearing about this now. But, you know, I generally say, we had - obviously, we made a press release recently. I think we've indicated certain things. So we had not disclosed to anybody these sanctions in advance, but I think a lot of people have been preparing for this over the last month.
Q With the blocked accounts, what would be the mechanism and what would be the timeline if there is this peaceful transfer of government? How would the money go from the blocked accounts back? And Juan Guaidó would be the operating person to take it back and receive it back if he's put into power? What's the mechanism there?
SECRETARY MNUCHIN: So let me just comment that, in general, okay, as we've said in the past, the purpose of sanctions is to change behavior. So when there is a recognition that PDVSA is the property of the rightful rulers - the rightful leaders, the President - then indeed that money will be available to Guaidó. We will be working with them on the money in the blocked account and whether that can be used for them.
Q Could you explain to the country what the strategic interests of the United States are in Venezuela now and its immediate future? What's at stake for us? And why the significant response held in abeyance if this transfer of government isn't achieved?
AMBASSADOR BOLTON: Well, we think stability and democracy in Venezuela ...Well, we think stability and democracy in Venezuela are in the direct national interest of the United States. Right now, under the Chavez-Maduro government, civil society in Venezuela is disintegrating. The economy is in a state of collapse. Something in the range of three to four million refugees have already fled the country for neighboring countries and the United States.
nd the authoritarian regime of Chavez and Maduro has allowed penetration by adversaries of the United States, not least of which is Cuba. Some call the country now
"Cuba-zuela," reflecting the grip that Cuba's military and security forces have on the Maduro regime. We think that's a strategic significant threat to the United States, and there are others as well, including Iran's interest in Venezuela's uranium deposits.
SECRETARY MNUCHIN: Yeah, and let me just comment. This is a country that is very rich in oil resources. There is no reason why these resources shouldn't be used for the economic benefit of the people there. There's no reason for the poverty and the starvation and the humanitarian crisis.
Q Can I ask both of you - the United States has talked a lot about a potential embargo on sales of oil and also stopping selling of oil products to Venezuela. Why haven't those been considered yet?
SECRETARY MNUCHIN: So there will be, as part of this, limitations on selling oil products as part of the sanctions. As regards to an embargo, we're not going to make any comment on that today. We don't comment on future actions.
Q Thank you, Mr. Secretary. Mr. Maduro seemed to anticipate the actions that you've announced today in the briefing room. He warned that Citgo is the property of the Venezuelan state, and he further said that we are the only ones who can decide its fate. What is your response to Mr. Maduro?
SECRETARY MNUCHIN: Again, it's the property of the Venezuelan people and the proper and rightful leaders of the country. So we agree with that. He's not the proper leader of the country at this time. And I've said these are valuable assets that we are protecting for the benefit of the Venezuelan people.
Q Mr. Secretary, if I could hone in on the question about the impact of the markets. Eamon asked you about refineries; you said it will have a modest impact. But what do American drivers need to know about the possible effect at the price of the pump, if any at all?
SECRETARY MNUCHIN: Well, first, let me say, you know, there's been a big reduction in the overall price of oil and particularly since we instituted the Iran sanctions. I think you know we've been very careful in making sure that these costs don't impact the American consumer. Gas prices are almost as low as they've been in a very long period of time. These refineries impact a specific part of the country. And I think, as you've said, we're very comfortable that they have enough supply that we don't expect any big impact in the short term.
Q Do you feel that that fact emboldens your position? Or do you feel the United States is able to take these measures as a result of the low gas prices or low oil prices on the whole? And does that - will increase the United States' leverage in this debate?
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