Why It Matters
Elo Atlantic SL retained Ballard Partners LLC to provide strategic advisory services on potential natural resource exploration in Venezuela, with a focus on U.S. regulatory, sanctions, and policy dynamics, according to its third-quarter 2026 filing. The filing was signed Oct. 16, 18 days after the Treasury Department's Office of Foreign Assets Control (OFAC) issued General License 46E and General License 49B, the latest major changes to the Venezuela licensing framework; the filing's issues text does not mention either license. For sanctions practitioners and congressional staff tracking Venezuela energy policy, the filing puts a foreign client on record as seeking advice on U.S. regulatory, sanctions, and policy dynamics in Venezuela.
By the Numbers
Elo Atlantic SL's third-quarter 2026 report lists $300,000 in lobbying fees paid to Ballard Partners LLC. That is up $300,000 from the second quarter of 2026, when the firm reported $0, and down $80,000 from the first quarter of 2026, when it reported $380,000.
The third-quarter filing lists three lobbyists, down from four in the second quarter: Brian Ballard, president; Micah Ketchel, partner; and Jose Díaz, executive vice president and managing partner. Will Russell, who appeared on the first- and second-quarter filings, is not listed. Of the three, only Ketchel has recorded committee experience, with the House Veterans' Affairs Committee in the 112th Congress.
Broader Context
President Donald Trump issued an executive order in March 2025 authorizing a 25% tariff on goods from countries that import Venezuelan oil, applicable on or after April 2, 2025; its tariff authority is separate from OFAC's later oil-activity licenses.
Rep. Debbie Wasserman Schultz (D-FL) introduced H.R. 328, the REVOCAR Act of 2025, on Jan. 9, 2025, and it was referred to the House Foreign Affairs Committee, with no later House action.
A January 2026 Congressional Research Service (CRS) analysis of Venezuela's oil sector said the pace of expanded production is uncertain, citing political and economic uncertainty and deteriorated infrastructure. A separate CRS overview of U.S. sanctions policy toward Venezuela, also updated in January, noted that Congress may assess whether sanctions advance U.S. interests and consider expanding or easing them.
The Bottom Line
Across all three quarters on record, Elo Atlantic SL has filed exclusively under Foreign Relations and used a single outside firm throughout.
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