Political, economic, and regulatory change is unfolding at a breathtaking pace for global companies, particularly as it relates to U.S. sanctions regimes. On Dec. 18, 2025, the Fiscal Year 2026 National Defense Authorization Act was signed into law with a provision repealing the Caesar Act, removing many of the U.S. sanctions-related barriers impacting business with Syria. On Jan. 3, 2026, U.S. special-operations forces and law-enforcement officials captured Venezuelan President Nicolás Maduro and transferred him to New York City for criminal proceedings. On Jan. 9, oil executives met at the White House to discuss re-entering the Venezuelan energy market. And on Jan. 29, the U.S. Treasury eased sanctions on Venezuela’s oil industry by issuing a general license allowing companies to carry out transactions with the state-owned oil company, Petróleos de Venezuela SA, and the Venezuelan government.
These developments signal a meaningful shift in international engagement by the U.S. and portend more market opportunities over the horizon. But reopening does not equate to normalization. Newly accessible markets often carry layered risks shaped by years of political conflict, sanctions, economic isolation, and weakened institutions. For businesses eager to capitalize on these opportunities, traditional market entry playbooks are rarely sufficient. This is not business as usual.
LINKS
Read “Strategic Considerations for Investing in Post-Sanctions Markets,” authored by E. Patrick Gilman, Neal Higgins, and Joshua W. Johnson and published in the Dow Jones Risk Journal. (subscription)