The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed new sanctions on individuals and companies linked to Nicolas Maduro’s government in Venezuela. The action targets three nephews of Cilia Flores, Maduro’s wife; a businessman associated with the regime; and six shipping companies operating within Venezuela’s oil sector. OFAC also identified six vessels involved in what it described as deceptive shipping practices that support Maduro’s administration.
Secretary of the Treasury Scott Bessent stated, “Nicolas Maduro and his criminal associates in Venezuela are flooding the United States with drugs that are poisoning the American people. These sanctions undo the Biden Administration’s failed attempt to make a deal with Maduro, enabling his dictatorial and brutal control at the expense of the Venezuelan and American people. Under President Trump’s leadership, Treasury is holding the regime and its circle of cronies and companies accountable for its continued crimes.”
Two nephews of Cilia Flores, Efrain Antonio Campo Flores and Franqui Francisco Flores de Freitas—known as “narco-nephews”—were previously convicted on drug trafficking charges after being arrested in Haiti in 2015 while attempting to smuggle cocaine into the United States. They were granted clemency by President Joe Biden in October 2022 but have since returned to Venezuela and allegedly resumed drug trafficking activities. OFAC designated both men under Executive Order 14059 for contributing to international drug proliferation.
Carlos Erik Malpica Flores, another nephew of Cilia Flores who previously served as national treasurer of Venezuela and vice president at Petroleos de Venezuela (PDVSA), was first sanctioned in July 2017 but removed from OFAC’s Specially Designated Nationals list in 2022 during negotiations led by the Biden administration. According to OFAC, those negotiations did not result in democratic elections, prompting Malpica’s redesignation under Executive Order 13692 for being a current or former official of Venezuela’s government.
Ramon Carretero Napolitano, a Panamanian businessman involved in business dealings with both PDVSA and members of the Maduro-Flores family, was sanctioned under Executive Order 13850 for his role in facilitating petroleum shipments for Venezuela.
The latest round of sanctions also targets six shipping companies registered across several jurisdictions including the Marshall Islands, British Virgin Islands, Panama, Hong Kong, Cook Islands, and UK. These firms are accused by OFAC of transporting Venezuelan oil using methods intended to conceal their activities:
– Myra Marine Limited (vessel: WHITE CRANE)
– Arctic Voyager Incorporated (vessel: KIARA M)
– Poweroy Investment Limited (vessel: H. CONSTANCE)
– Ready Great Limited (vessel: LATTAFA)
– Sino Marine Services Limited (vessel: TAMIA)
– Full Happy Limited (vessel: MONIQUE)
These vessels reportedly manipulated location transmissions or failed to report their positions while loading oil destined primarily for Asian markets.
All property belonging to those sanctioned that falls under U.S. jurisdiction is now blocked and must be reported to OFAC. Entities owned at least 50 percent by one or more blocked persons are also affected by these restrictions. U.S. regulations prohibit transactions involving any property or interests held by designated persons unless authorized by OFAC.
OFAC warns that violations may lead to civil or criminal penalties for both U.S. citizens and foreign nationals engaging with sanctioned parties.
“The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons List (SDN List), but also from its willingness to remove persons from the SDN List consistent with the law,” according to an official statement included in today’s announcement.
For further details about seeking removal from an OFAC list or about today’s designations visit https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions.
