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U.S. enters Cuban corporation in Venezuelan sanctions list

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U.S. Treasury Department listed Cuban Corporacion Panamericana on its Venezuelan sanctions list on Tuesday.  This was reported by the Office for the Control of Foreign Assets of the financial department.

The statement notes that Corporacion Panamericana is associated with Cubametales, an Cuban-based Cuban company that exports and imports metals, fuels, and lubricants.  She was blacklisted in July in connection with her “activities in the oil sector of the Venezuelan economy.”  According to the American authorities, Corporacion Panamericana “belongs, is controlled, acts in the interests of” Cubametales.

Entering the sanctions list means freezing assets in the United States and banning any business with these companies for American citizens.

The political situation in Venezuela escalated after opposition leader Juan Guaidó, whose appointment to the post of parliament speaker two days earlier was canceled by the Supreme Court, declared himself acting president.  The United States recognized him as the interim head of state, they were joined by the countries of the Lima Group (with the exception of Mexico), the Organization of American States and several European countries.

Venezuelan President Nicolas Maduro called the incident an attempted coup and announced the severance of diplomatic relations with the United States.  Russia, Belarus, Bolivia, Iran, China, Cuba, Nicaragua, El Salvador, Syria and Turkey spoke in support of it.

Read more related articles about North America: https://www.diplomacy24.com/category/north-america/

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