The Treasury Department’s Office of Foreign Assets Control on Monday imposed sanctions on three Venezuelans involved with narcotics trafficking.
Narcotics trafficker Pedro Luis Martin Olivares, his accomplices, Walter Alexander Del Nogal Marquez and Mario Antonio Rodriguez Espinoza, and 20 companies they own or control will be hit with these sanctions.
The sanctions will block all U.S. assets of the three people and their companies. Treasury regulations prohibit any U.S. person or entity from involving itself with the individuals and their interests.
“This action is in response to Martin’s extensive drug trafficking and money laundering activities. Systemic corruption and a collapse in the rule of law are defining features of Venezuela’s government,” Treasury Secretary Steve Mnuchin said in a statement. “We will deny corrupt Venezuelan regime officials access to the U.S. financial system as we work with international partners to support the Venezuelan people in restoration of democracy and a return to prosperity.”
According to the Treasury’s statement, Martin has facilitated multi-ton loads of cocaine movement and uses several methods of money laundering.
Del Nogal, a partner to Martin, assists in the distribution of drugs and money movement. Rodriguez serves as Martin’s right-hand-man.
Vice President Mike Pence also announced Monday that the U.S. would be imposing new sanctions on Venezuela and the Nicolas Maduro socialist regime.
