A sweeping action by the U.S. Treasury Department has targeted key figures connected to Venezuelan President Nicolás Maduro, escalating pressure on his administration. The sanctions announced Thursday focus on individuals and entities allegedly involved in drug trafficking and sustaining Maduro’s regime through illicit financial activities.
At the heart of the action are three nephews of Maduro’s wife, Cilia Flores. Two, Efrain Antonio Campo Flores and Franqui Francisco Flores de Freitas – dubbed the “narco-nephews” – were previously convicted of narco-trafficking after a 2015 arrest in Haiti while attempting to smuggle hundreds of kilograms of cocaine into the United States.
Remarkably, the pair received clemency in 2022, a decision that now appears to be under scrutiny. Officials allege they have resumed their drug trafficking operations upon returning to Venezuela, prompting the renewed sanctions.
A third nephew, Carlos Erik Malpica Flores, formerly held positions as national treasurer and vice president of the state-owned oil company PDVSA. He was previously sanctioned in 2017, then briefly removed from the sanctions list during Biden administration negotiations, a move now criticized as a failed attempt at diplomacy.
The sanctions extend beyond the Maduro family, targeting six shipping companies accused of facilitating the movement of Venezuelan oil. These companies – Myra Marine Limited, Arctic Voyager Incorporated, Poweroy Investment Limited, Ready Great Limited, Sino Marine Services Limited, and Full Happy Limited – are alleged to have engaged in deceptive practices to conceal their activities and transport oil, some to destinations in Asia.
Authorities claim these companies actively obscure their locations, hindering tracking efforts and enabling the continued flow of resources to Maduro’s government. The actions are framed as a direct response to the alleged influx of drugs into the United States and a destabilizing influence on the region.
The Treasury Department asserts these sanctions aim to dismantle the financial networks supporting Maduro’s regime, effectively cutting off a critical lifeline for his continued rule. The move signals a shift in strategy, abandoning previous attempts at negotiation in favor of a more assertive approach.
Six vessels associated with these companies have also been identified as engaging in unsafe and deceptive shipping practices. These practices, according to officials, directly contribute to the financial resources fueling the alleged criminal activities of the Maduro regime.
