Panamanian President Jose Raul Mulino publicly distanced his administration from sanctioned businessman Ramon Carretero Napolitano during a press conference on Thursday. Mulino stated his government maintains no direct or indirect relationship with Carretero, who was added to a US sanctions list in December for alleged ties to Venezuela’s government.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Carretero on December 11. Officials included him on the so-called Clinton List alongside three nephews of Cilia Flores, the wife of Venezuelan leader Nicolás Maduro, and six shipping companies. The action freezes any US assets belonging to the individuals and entities while prohibiting Americans from conducting business with them.
“My government does not have any relationship, either directly or indirectly, with the gentleman. There is not a single contract related to him directly, nor does he play an important role in Panama in terms of economic activity,” Mulino said. [Translated from Spanish]
President Mulino characterized the US sanctions as a sovereign decision stemming from events linked to Venezuela. He emphasized that any explanation regarding the allegations must come from Carretero himself, addressed to American authorities. The Panamanian leader made these remarks during his final press conference of 2025, seeking to clarify his government’s position.
Sanctions Linked to Venezuelan Oil Sector
OFAC’s December announcement accused Ramon Carretero Napolitano of participating in lucrative contracts with the Maduro regime. The agency’s statement claimed he maintained various business dealings with the Maduro-Flores family, including partnerships in several companies. OFAC further alleged he facilitated shipments of petroleum products on behalf of the Venezuelan government.
The designation occurred under the authority of Executive Order 13850, which targets those operating in Venezuela’s oil sector. This forms part of broader US sanctions aimed at pressuring Maduro’s government. The move against the carretero napolitano marked a significant enforcement action with regional implications.
Mulino addressed the broader geopolitical context directly. He stated Panama remains an observer, not a participant, in the conflict between the United States and Venezuela. The president outlined the US grievances, which include accusations of undermining democracy and sponsoring narcotics trafficking.
“That is a problem between them that Panama observes very carefully, of course. It is completely foreign in terms of participation,” Mulino stated. [Translated from Spanish]
These declarations aimed to dispel any speculation about connections between the Panamanian state and individuals facing US sanctions. Mulino reaffirmed Panama’s stance of non-involvement in international disputes falling outside its direct concern. His comments underscored a policy of cautious neutrality regarding the protracted US-Venezuela diplomatic confrontation.
The administration’s clear separation from Carretero Napolitano signals an effort to maintain transparent relations with Washington. Panama relies heavily on international banking and trade, making compliance with global financial regulations a persistent priority. Observers note the government’s swift response prevents potential reputational risk for the country’s financial services sector.
President Mulino concluded his remarks by reiterating the government’s formal position. He confirmed Panama would continue monitoring the situation while focusing on its own domestic agenda. The press conference effectively closed the matter from an official perspective, barring any future developments directly involving Panamanian state entities.