Insight Crime on 13th March reported that OFAC sanctions had been slapped on Alba Petróleos in El Salvador and Albanisa in Nicaragua, both PDVSA’s subsidiaries are under the control of the governing parties in each country.  PDV Caribe, one of PDVSA’s subsidiaries, owns 60% of Alba Petróleos, which was founded in 2006 and said to be closely linked to Farabundo Martí National Liberation Front.  In Nicaragua, PDVSA owns 51% of Alba de Nicaragua (Albanisa); the other 49% is owned by municipalities under the control of Daniel Ortega’s regime.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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