OFAC SANCTIONS PARAGUAY’S FORMER PRESIDENT AND CURRENT VICE-PRESIDENT FOR CORRUPTION

On 26 January, OFAC announced that Horacio Manuel Cartes Jara, the former President of Paraguay, andHugo Adalberto Velazquez Moreno, the current Vice-President, for their involvement in the rampant corruption that undermines democratic institutions in Paraguay. OFAC is also designating several companies owned or controlled by Cartes.  The sanctions are being imposed under the so-called Global Magnitsky sanctions regime.  OFAC had also issued new General Licenses 5 and 6 and 2 related FAQ.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20230126

https://home.treasury.gov/news/press-releases/jy1221

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/added/2023-01-26

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 View all posts by raytodd2017