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Venezuela sent gold to Mali, UAE for cash, opposition claims

Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and United States dollars that President Nicolas Maduro’s government used to remain afloat despite US sanctions, an opposition representative said on Wednesday. Julio Borges, designated by Venezuelan opposition leader Juan Guaido as his chief overseas envoy,… Read More

Biden in no rush to lift Venezuela sanctions, seeks ‘serious steps’ by Maduro

President Joe Biden’s administration is in “no rush” to lift U.S. sanctions on Venezuela but would consider easing them if President Nicolas Maduro takes confidence-building steps showing he is ready to negotiate seriously with the opposition, a White House official told Reuters. Signaling that the new U.S. president may be… Read More

EU slaps sanctions on 19 top Venezuelan officials over election fraud

EU foreign ministers on Monday imposed sanctions on 19 leading Venezuelan officials accused of undermining democracy or violating human rights in the South American country. The officials — which include high-ranking generals and other army commanders as well as supreme court judges and senior politicians from the regime of strongman… Read More

22nd February 2021

Hide and Seek: How Drug Traffickers Get Creative at Sea

Drug traffickers engage in a creative game of hide and seek with coast guards and other security forces that board their ships at sea. Rubén Navarrete, a Mexican Navy captain based in the western state of Michoacán, told Televisa News last November that those dedicated to maritime smuggling could only… Read More

19th February 2021

Madrid Dismantles Contract Killing, Money Laundering Network

By Katie Jones, InSight Crime, 18 February 2021 InSight Crime — Authorities in Madrid have dismantled part of a sophisticated network dedicated to contract killings and transnational money laundering, highlighting the autonomous community’s role as a power base for criminal groups with clear ties to Latin America… Read More

12th February 2021

Venezuelan tied to epic corruption case funneled millions into secretive Luxembourg companies

As one of the world’s biggest oil producers, Venezuela’s government allegedly handed out billions of dollars in energy contracts to an inner circle of politically connected young businessmen, who in turn moved the bulk of their new fortunes to Europe, with some diverting their assets to South Florida. One such… Read More

11th February 2021

The Italian Mafia and the Move Upstream

By James Bargent, InSight Crime, 9 February 2021 InSight Crime – Operation ‘Tiburón Galloway’ began as a local investigation by prosecutors in the Italian region of Calabria in 2001, but quickly snowballed into a multinational, multiagency investigation. Over five years, prosecutors uncovered a vast cocaine trafficking and… Read More

22nd January 2021

Two former Julius Baer CEOs reprimanded following money laundering inquiry

Two former CEOs of private bank Julius Baer were reprimanded on Thursday by Switzerland’s financial regulator after an inquiry into money laundering in Venezuela and corruption at soccer’s world governing body FIFA. Regulator FINMA did not name the executives but former Chief Executive Boris Collardi, now a partner at Geneva… Read More

22nd January 2021

China Imports Oil Doctored to Skirt U.S. Sanctions on Venezuela

It may be the oil market’s worst-kept secret: Millions of barrels of Venezuelan heavy crude, embargoed by the U.S., have been surreptitiously going to China. The cat-and-mouse games that avoid detection and sanctions include ship-to-ship transfers, shell companies and silenced satellite signals. But there’s another aspect to the dodge. It… Read More

22nd January 2021

U.N. aid coordinator halts Venezuela cash transfer programs

The United Nations Office for Coordination for Humanitarian Affairs said on Wednesday it has halted programs in Venezuela that provide cash transfers to the poor via local nonprofit organizations. The U.N. office known as OCHA is asking the government of President Nicolas Maduro to establish clear rules regarding cash transfers. Read More

21st January 2021

U.S. blacklists oil traders, tankers for undermining Venezuela sanctions

The United States on Tuesday sanctioned a network of oil trading firms, individuals and vessels that have helped Venezuelan state-run oil company PDVSA sell crude mainly to Asia despite Washington’s sanctions on the South American nation. The measure targets a network that the U.S. Treasury Department says helped the administration… Read More

21st January 2021

Trump Administration Imposed More Postelection Sanctions Than Recent Administrations

The Trump administration issued a flurry of sanctions after Election Day, a move that could complicate foreign policy for the Biden administration, sanctions policy observers said. The U.S. Treasury Department’s Office of Foreign Assets Control announced 307 designations of blacklisted individuals and entities between Nov. 3 and Tuesday, the last… Read More

7th January 2021

Credit Suisse Cuts Ties With Some Venezuelan Wealth Clients

Credit Suisse Group AG has cut relationships with a number of Venezuela’s wealthy as it weighs the risk of doing business with politically-exposed clients in the sanctions-hit country. Switzerland’s second-largest lender has cut assets it manages for the nation’s wealthy by more than half over the past few years,… Read More

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