The United States has imposed sanctions on Venezuela's state-owned oil firm PDVSA, which holds a 49 per cent stake in Jamaica's oil refinery, Petrojam.
Treasury Secretary Steven Mnuchin said the proceeds of the purchase of Venezuelan oil would now be withheld from President Nicolas Maduro's government, but the company could avoid sanctions by recognising Opposition Leader Juan Guaidó as Venezuela's interim president.
It is unclear at this time whether the sanctions have any implications for Petrojam.
Efforts to reach Foreign Affairs Minister Kamina Johnson Smith for a comment were unsuccessful.
The Jamaican Government has already stated that it is moving to take over the Petrojam shares held by PDVSA's subsidiary, PDV Caribe, through a process of compulsory acquisition.
The decision followed months of negotiations during which the government said it was unable to reach an agreement on the sale price for the shares with the Venezuelans.
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