{"id":10027,"date":"2025-12-12T18:00:35","date_gmt":"2025-12-12T23:00:35","guid":{"rendered":"https:\/\/expat-times.com\/panama\/?p=10027"},"modified":"2025-12-12T13:03:38","modified_gmt":"2025-12-12T18:03:38","slug":"panamanian-businessman-sanctioned-by-us-treasury-over-venezuela","status":"publish","type":"post","link":"https:\/\/expat-times.com\/panama\/politics-government\/panamanian-businessman-sanctioned-by-us-treasury-over-venezuela\/","title":{"rendered":"Panamanian Businessman Sanctioned by US Treasury Over Venezuela"},"content":{"rendered":"

The United States Department of the Treasury imposed significant financial sanctions on Thursday, December 11, 2025. Its Office of Foreign Assets Control (OFAC)<\/a> targeted a Panamanian businessman with deep ties to Venezuela’s government and three nephews of the Venezuelan first lady. These actions mark a sharp reversal of previous diplomatic engagement with the administration of Nicol\u00e1s Maduro.<\/p>\n

Ram\u00f3n Carretero Napolitano, a 60-year-old businessman from Colon, Panama, was added to the Specially Designated Nationals list. Three Venezuelan nationals, Efra\u00edn Campo Flores, Franqui Francisco Flores De Freitas, and Carlos Erik Malpica Flores, were also designated. They are nephews of Cilia Flores, Venezuela’s first lady and the wife of President Maduro.<\/p>\n

Official Rationale and a Shift in Policy<\/h2>\n

In a public statement, Treasury Secretary Scott Bessent directly linked the sanctions to the Maduro government’s activities. He framed the move as a decisive break from the prior administration’s strategy.<\/p>\n

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“Nicol\u00e1s Maduro and his criminal associates in Venezuela are flooding the United States with drugs that are poisoning the American people,” said Secretary Bessent. [Translated from Spanish]<\/p>\n<\/blockquote>\n

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“These sanctions reverse the failed attempt by the Biden Administration to reach an agreement with Maduro, allowing his dictatorial and brutal control at the expense of the Venezuelan and American people. Under President Trump’s leadership, the Treasury is holding the regime and its circle of cronies and companies accountable for their continued crimes,” Bessent added. [Translated from Spanish]<\/p>\n<\/blockquote>\n

The Treasury Department’s official social media account referred to the nephews as “narco-nephews,” underscoring the allegations of drug trafficking that form the basis for the sanctions. Carretero’s designation specifically cites his role in facilitating shipments of petroleum products on behalf of the Venezuelan government.<\/p>\n

This enforcement action is authorized under Executive Order 13850<\/a>. That order, signed by President Donald Trump in November 2018, provides the framework for sanctioning individuals and entities involved in corruption, human rights abuses, or activities threatening U.S. national security related to the Venezuelan government.<\/p>\n

Profiles of the Sanctioned Individuals<\/h2>\n

Ram\u00f3n Carretero Napolitano has been publicly associated with the Maduro regime since at least 2013. OFAC describes him as having secured lucrative contracts with the Venezuelan state. He is currently recovering from injuries sustained in a plane crash on September 24, 2025, at the Simon Bolivar International Airport (Maiquetia)<\/a> near Caracas.<\/p>\n

Investigative reporting by Panamanian newspaper La Prensa, published in May 2025, detailed Carretero’s business dealings. The report found that his company signed three contracts worth approximately $700 million with the Venezuelan state foundation Pro-Patria 2000 between 2013 and 2014. Carlos Malpica Flores, one of the newly sanctioned nephews, was president of that foundation at the time.<\/p>\n

The history of the Flores nephews is particularly notable. Efra\u00edn Campo Flores and Franqui Flores De Freitas were arrested in Haiti in November 2015 and later convicted in a New York federal court. Their crime was conspiring to import 800 kilograms of cocaine into the United States. Each received an 18-year prison sentence. President Joe Biden pardoned them in October 2022 as part of a prisoner swap that secured the release of seven Americans jailed in Venezuela.<\/p>\n

Carlos Malpica Flores, a former vice president of state oil company PDVSA, had been removed from the sanctions list in 2022 during diplomatic outreach efforts. His reinstatement this week signals the collapse of those negotiations. The sanctions now encompass a core family circle, including Maduro, his son, the primera dama<\/a> Cilia Flores, and her three children.<\/p>\n

Targeting the Oil and Shipping Network<\/h2>\n

Beyond the individuals, the Treasury Department took aim at the logistical network supporting Venezuelan oil exports. Six shipping companies were designated, registered in jurisdictions including the Marshall Islands, the British Virgin Islands, and the United Kingdom. These firms are involved in transporting Venezuelan gas.<\/p>\n

Authorities also listed six specific oil tankers for sanctions. Four of those vessels sail under the Panamanian flag. They are identified as the H. Constance, Kiara M., Lattafa, and White Crane. This continues a pattern where Panama’s maritime registry, one of the world’s largest, is implicated in facilitating trade for sanctioned regimes.<\/p>\n

The practical effect of these designations is severe. All property and interests in property of the named individuals and entities within U.S. jurisdiction are now blocked. Americans are generally prohibited from engaging in any transactions with them. The sanctions also expose non-U.S. persons to potential designation themselves if they provide material support to those listed.<\/p>\n

This latest action represents a comprehensive attempt to constrict the financial and operational channels available to the Maduro government. By targeting a foreign businessman, family members with criminal convictions, and the shipping industry that moves Venezuelan commodities, the U.S. Treasury is applying maximum pressure across multiple fronts. The policy shift back to a posture of confrontation suggests a renewed focus on isolating the Venezuelan administration economically.<\/p>\n","protected":false},"excerpt":{"rendered":"

The United States Department of the Treasury imposed significant financial sanctions on Thursday, December 11, 2025. Its Office of Foreign Assets Control (OFAC) targeted a Panamanian businessman with deep ties to Venezuela’s government and three nephews of the Venezuelan first lady. These actions mark a sharp reversal of previous diplomatic engagement with the administration of<\/p>\n","protected":false},"author":2,"featured_media":10029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","footnotes":""},"categories":[29,30],"tags":[1449,1450,109,1451,75],"class_list":{"0":"post-10027","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics-government","8":"category-business-economy","9":"tag-ofac","10":"tag-treasury-sanctions-panamanian-businessman","11":"tag-us-sanctions","12":"tag-us-sanctions-venezuela","13":"tag-venezuela"},"_links":{"self":[{"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/posts\/10027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/comments?post=10027"}],"version-history":[{"count":1,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/posts\/10027\/revisions"}],"predecessor-version":[{"id":10028,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/posts\/10027\/revisions\/10028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/media\/10029"}],"wp:attachment":[{"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/media?parent=10027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/categories?post=10027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/expat-times.com\/panama\/wp-json\/wp\/v2\/tags?post=10027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}