- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-06-23T15:32:00
The U.S. Department of the Treasury’s Office of Foreign Assets Control has blacklisted a network of Mexican individuals and companies said to be helping Venezuelan President Nicolas Maduro evade U.S. sanctions.
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The DOJ unsealed indictments against Venezuelan President Nicolás Maduro and several high-ranking former and current members of his regime for alleged drug trafficking and money laundering crimes, as well as violations of the FCPA.
A sales representative and a former president of a U.S.-based company are facing charges for their alleged roles in a scheme to corruptly secure business advantages from Venezuela’s state-owned and state-controlled energy company, PDVSA.
With the tightening of sanctions by the United States around Venezuela and PDVSA, there will only be more scrutiny going forward for those that do business with the state-owned oil company.
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
