Shortly before the start of the second term of Venezuelan President Nicolas Maduro, the US government again imposed sanctions on a number of government officials and entrepreneurs from the South American country. The measure targets seven people and 23 companies, including the private television broadcaster Globovision Tele, told the US Treasury today.
Investments and accounts in the US are now closed due to sanctions. US citizens are not allowed to do business with the suspects. For some transactions, however, there are exceptions. These would apply for a year.
A corruption network is said to have enriched the suspects by 2.4 billion US dollars (2.1 billion euros). „Insiders of the Venezuelan regime have stolen billions of dollars while the people are suffering,“ said US Treasury Secretary Steven Mnuchin.
The US has imposed multiple sanctions since 2017
The suspects, including the former Treasurer Claudia Patricia Diaz Guillen and the entrepreneur Raul Gorrin Belisario, deducted large amounts in foreign exchange transactions through state-registered bureaux de change according to US tax authorities. The profits have been invested in companies in the US, but also in aircraft, yachts, racehorses and luxury watches.
Since 2017, the US has imposed and tightened sanctions on Venezuela several times. They accuse the government of acting against critics, promoting corruption and destroying the country’s economy. President Maduro said his government was the victim of a business war. Already in late December, Venezuela lodged a complaint against punitive measures with the World Trade Organization (WTO).
The country is suffering from inflation of 200,000 percent and a lack of staple foods and medicines. The difficult situation has led to a mass exodus to neighboring countries.
