The U.S. Treasury Department's Office of Foreign Assets Control sanctioned Bluwaves Properties Limited on Aug. 18, 2026, singling out the British Virgin Islands company that was formerly owned by Harry Sargeant III and held a minority stake in North American Blue Energy Partners, or NABEP, Venezuela's second-largest private oil producer. Sargeant sold Bluwaves for $300 million around Aug. 10, with the buyer reportedly linked to Alejandro Betancourt, a Venezuelan businessman who serves as NABEP's controlling shareholder. The action lands as Washington's Venezuela policy has shifted after the January 2026 capture of former President Nicolás Maduro and the later use of general licenses to allow limited oil activity. The latest timeline differs from earlier reporting that had described the disposal as following a Treasury asset freeze.