Rubio means U.S. oil sanctions that block or restrict Venezuela’s crude exports and related transactions; the "quarantine" is the operational enforcement of those sanctions—preventing sanctioned cargo from being delivered or financially settled unless approved by the U.S. (examples include boarding/seizing tankers, blocking normal banking routes, and allowing narrowly licensed sales). Under the quarantine, the U.S. can authorize specific sales only if proceeds are handled through U.S.-supervised channels.
Administration: the Treasury will hold proceeds in designated U.S. custodial accounts ("Foreign Government Deposit Funds"); the Secretary of State will direct how funds may be spent and the Treasury executes those instructions. Process: Venezuelan authorities submit monthly budgets; the U.S. limits prohibited uses and can require purchases (e.g., medicine, diluent) and phased disbursements. Oversight/audit: the EO requires Treasury (in consultation with State and DOJ) to manage the accounts and report to Congress, but detailed public audit procedures or third‑party auditing arrangements have not been fully disclosed.
"The elements" refers to Venezuela’s security and governing institutions that hold practical power today: the Bolivarian National Armed Forces (including the National Guard), national law‑enforcement/security services, senior managers of state oil company PDVSA and oil infrastructure custodians, and influential regional officials and pro‑government groups (including armed colectivos/paramilitary actors).
Diluent is a light oil or solvent blended into Venezuela’s very heavy crude (extra‑heavy or bitumen‑like) to reduce viscosity so it can flow through pipelines, be pumped into tankers, and run through refineries; without diluent, Venezuela’s heavy grades cannot be exported or processed effectively.
The new hydrocarbon law reportedly removes many Chavez‑era limits on private and foreign participation in the oil sector (easing restrictions on joint ventures, production-sharing and private investment), intended to attract capital and technical partners; officials say it’s a significant step but may not be sufficient to overcome years of underinvestment and legal/contractual uncertainties—investment will depend on implementation, contract terms, and guarantees against past expropriation claims.
Public U.S. statements (including Rubio’s testimony and government briefings) say Maduro was removed from power during the recent operation referenced; publicly available official remarks describe "the removal of Maduro" but do not provide detailed legal or criminal-status language in that statement. Independent reporting indicates Maduro lost control and U.S. forces/partners interdicted key oil shipments and moved to enforce sanctions; definitive, court‑documented arrest/charge details have not been published in the sources cited here.
The U.S. and partners plan a mix of measures: (1) conditional licensing and sanctions enforcement (allowing sales only through supervised mechanisms); (2) requirements for transparent disbursement of oil proceeds and U.S. oversight of those accounts; (3) support for electoral reforms and international monitoring (observers, technical assistance); and (4) incremental political opening (release of political prisoners, media access). Precise election‑conditioning details (timelines, observer teams, guarantees) have not been fully published.