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15th May 2020

FBI probes Mexican, European firms over Venezuela oil trading – sources

The FBI is probing several Mexican and European companies allegedly involved in trading Venezuelan oil as it gathers information for a U.S. Treasury Department inquiry into possible sanctions busting, according to four people familiar with the matter. U.S. Secretary of State Mike Pompeo and special envoy for Venezuela Elliott Abrams… Read More

15th May 2020

U.S. considers returning Cuba to list of state sponsors of terrorism – source

The United States is considering returning Cuba to its list of state sponsors of terrorism, a senior Trump administration official told Reuters on Thursday, a move that would mark another major blow to increasingly tense relations between Washington and Havana. There is a “convincing case” that Cuba should be placed… Read More

14th May 2020

Venezuela’s congress to voice concern to U.S. over Nynas sanctions removal

Venezuela’s opposition-held congress plans to voice concern to the U.S. government over its removal of sanctions on Swedish refiner Nynas AB after Venezuela’s state-run oil company, Petroleos de Venezuela, sold most of its stake in the firm, three people with knowledge of the matter said. Nynas said on Tuesday that… Read More

11th May 2020

Maduro to Tap Sanctioned Dealmaker to Ship Gold to Iran

An indicted financier accused by the U.S. of developing Venezuela’s gold-for-food trade with Turkey is helping orchestrate a similar swap with Iran involving gold for gasoline products, according to seven people familiar with the matter. Alex Nain Saab Moran, a Colombian whom U.S. authorities consider one of the most… Read More

7th May 2020

US government audit uncovers strategy, funding gaps in fight against trade-based money laundering

The US government has rejected calls for closer monitoring of efforts to fight trade-based money laundering (TBML), despite an independent audit concluding that significant strategic improvements are needed. The Government Accountability Office (GAO) – a non-partisan congressional watchdog – had been asked by US senators to examine the steps taken… Read More

5th May 2020

Banks deal with heightened sanctions risks, compliance hiccups amid pandemic

Banks face longer transaction processing times and possible sanction violations as the coronavirus crisis puts pressure on their compliance control functions, experts warn. Customers’ rapidly changing supply chains are a growing concerns for banks. As lockdown measures are causing logistical challenges, businesses must increasingly change third-party providers at short notice,… Read More

4th May 2020

Iran Is Hauling Gold Bars Out of Venezuela’s Almost-Empty Vaults

Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter. Government officials piled some 9 tons of gold — an amount equal… Read More

30th April 2020

Swiss oil traders and banks burned by Venezuela ties

Several Swiss companies and banks have found themselves in the line of fire as the United States ramps up pressure on the Venezuelan government. Washington has sanctioned numerous top officials for money laundering and drug trafficking in the oil-rich but economically flailing Latin American nation. The Venezuelan economy is in… Read More

29th April 2020

Big powers urged to freeze sanctions on Syria, Iran, Venezuela during virus

Major powers must suspend economic sanctions against countries including Syria, Iran and Venezuela during the coronarivus pandemic which threatens to worsen hunger and suffering for the poor, an international refugee charity said on Tuesday. Jan Egeland, a former U.N. aid chief who now heads the Norwegian Refugee Council (NRC), said… Read More

28th April 2020

Maduro taps US fugitive to revamp Venezuela oil industry

AP — President Nicolás Maduro on Monday named a powerful ally sanctioned by the U.S. as a drug kingpin, along with a cousin of the late socialist leader Hugo Chávez, to revamp Venezuela’s oil industry amid massive gasoline shortages. Tareck El Aissami was appointed oil minister and Asdrúbal Chávez… Read More

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