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Gold Seized at Heathrow Part of Cayman Money-Laundering Case: NCA

The UK National Crime Agency (NCA) has seized gold worth approximately £4 million as part of a money-laundering investigation into a suspected South American drug cartel. Law enforcement officials interdicted the gold in June at Heathrow Airport, where it was in the process of being shipped from the Cayman Islands… Read More

EU readies sanctions on Venezuelan security officials

The European Union is preparing new sanctions against Venezuelan security forces involved in human rights violations, the bloc’s foreign policy chief said on Tuesday, following the death in custody of a navy captain amid allegations of torture. Federica Mogherini said the death of Rafael Acosta while in custody for alleged… Read More

Weary of Sanctions, Venezuela Mulls Using Russian Payment System

Venezuela’s government is studying the possibility of switching to a Russian-operated international payments messaging system as an alternative to SWIFT as part of preparations for an uptick in U.S. sanctions, according to two people familiar with the matter. Venezuelan central bank officials have requested information from their Russian counterparts to… Read More

16th July 2019

Venezuela Defies Sanctions to Sell $40 Million in Gold Reserves

Venezuela sold about $40 million worth of gold last week, defying numerous U.S. sanctions that threaten to cut off Nicolas Maduro’s autocratic regime, according to people with knowledge of the matter. The central bank sold nearly one ton of gold July 12, lowering Venezuela’s dollar reserves to a near three-decade… Read More

12th July 2019

US targets Venezuela intelligence agency with sanctions

AP — The Trump administration imposed sanctions Thursday on Venezuela’s military intelligence agency, which is accused of torturing to death a navy captain in its custody. The latest move by the U.S. Treasury Department to pressure President Nicolás Maduro from power followed another round of negotiations in Barbados between Maduro’s… Read More

8th July 2019

Going Dark and Fake Voyages: The Tricks Used to Dodge Trade Sanctions

As the U.S. looks to enforce sanctions aimed at halting trade with states such as Iran and Venezuela, there’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Ships… Read More

4th July 2019

US sanctions Cuban firm to weaken Maduro’s hold in Venezuela

AP — The United States hit Cuba’s state-run oil shipping firm Cubametales with financial sanctions on Wednesday, saying it’s a key player propping up Venezuela’s President Nicolás Maduro. “Maduro is clinging to Cuba to stay in power, buying military and intelligence operatives in exchange for oil,” U.S. Treasury Secretary… Read More

28th June 2019

Venezuelan ex-electric chief among 2 indicted in US

AP — Authorities say two former Venezuelan officials have been indicted on U.S. money-laundering charges, including the ex-minister for electricity. The Miami U.S. attorney’s office said in a news release Thursday that 60-year-old Luis Alfredo Motta Dominguez faces seven counts of money laundering and one count of money-laundering conspiracy. Prosecutors… Read More

26th June 2019

Venezuela’s Ex-Intel Chief Accuses Maduro of Illicit Finance, Hezbollah Ties

Venezuelan President Nicolas Maduro is the “head of a criminal enterprise” involving his family and other government officials, the nation’s former top spy, now a defector, told The Washington Post. From October through April, Gen. Manuel Ricardo Cristopher Figuera served as the director of the Servicio Bolivariano de Inteligencia… Read More

25th June 2019

Ex-Venezuelan oil minister asks U.S. court to set aside $1.4 billion judgment

Former Venezuelan Oil Minister Rafael Ramirez asked a federal judge in Houston on Monday to set aside a $1.4 billion default verdict against him in a fraud suit brought by a defunct Houston oil company, according to court documents. Ramirez, who was Venezuela’s oil minister for 12 years and later… Read More

17th June 2019

Diplomats: Europeans weigh sanctions on Venezuela’s Maduro

AP — Major European nations are considering imposing sanctions on Venezuela’s Nicolás Maduro and several top officials for their recent crackdown on political opponents, although divisions remain over the timing of any action for fear of derailing a negotiated exit to the country’s crisis, The Associated Press has learned. The… Read More

10th June 2019

Venezuela court orders trial for detained Citgo executives

A Venezuelan court on Friday ordered that six executives from U.S. refiner Citgo should stand trial on charges of corruption, defying pressure from U.S. authorities to release for the group that includes naturalized U.S. citizens. The executives were arrested in November 2017 after being called into a meeting at the… Read More

7th June 2019

U.S. tightens Venezuela oil sanctions, indicates more actions to come

The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions. The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at pressuring Venezuelan President Nicolas Maduro… Read More

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