US: GLOBAL MAGNITSKY SANCTIONS ON PARAGUAYAN COMPANY LINKED TO EX-PRESIDENT

On 31 March, OFAC advised that TABACALERA DEL ESTE SA (aka TABESA), which is linked to former Paraguayan president Horacio Manuel Cartes Jara, who was himself designated in January for involvement in corruption in Paraguay.  It also issued General License 7 and FAQ 1131 re certain transactions involving the blocked entities Tabacos USA Inc and Tabacalera del Este S.A. (Tabesa) (or any entity in which Tabesa or Tabacos owns, directly or indirectly, individually or in the aggregate, a 50% or greater interest).

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20230331

https://home.treasury.gov/policy-issues/financial-sanctions/faqs/1121

https://home.treasury.gov/system/files/126/glomag_gl7.pdf

https://www.buymeacoffee.com/KoIvM842y

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