The United States imposed sweeping sanctions on December 11, 2024, targeting three nephews of Venezuelan President Nicolas Maduro's wife and six oil tankers in a major escalation of pressure on the regime over corruption and drug trafficking allegations.
The Treasury Department's Office of Foreign Assets Control announced the measures against Franqui Flores, Efrain Antonio Campo Flores, and Carlos Erik Malpica Flores, all nephews of First Lady Cilia Flores. The action also sanctioned Panamanian businessman Ramon Carretero Napolitano and six shipping companies accused of moving Venezuelan oil through deceptive practices.
Sanctions on Nicolas Maduro's Family
Treasury Secretary Scott Bessent said the sanctions reverse the Biden administration's diplomatic approach toward Venezuela. "Nicolas Maduro and his criminal associates in Venezuela are flooding the United States with drugs that are poisoning the American people," Bessent stated. "Under President Trump's leadership, Treasury is holding the regime and its circle of cronies and companies accountable for its continued crimes."
Two of the sanctioned nephews, Campo and Flores, earned the nickname "narco-nephews" after their 2015 arrest in Haiti during a Drug Enforcement Administration sting operation, according to Reuters. They were convicted in 2016 on charges of attempting a multimillion-dollar cocaine deal and sentenced to 18 years in prison. President Joe Biden released them in a 2022 prisoner exchange with Venezuela, but Treasury officials allege they resumed drug trafficking activities upon returning to Venezuela.
The third nephew, Malpica Flores, previously served as national treasurer and vice president of Venezuela's state-owned oil company PDVSA. He was initially sanctioned in 2017 for alleged corruption at the oil company but was removed from the sanctions list in 2022 as part of the Biden administration's diplomatic efforts. The Treasury redesignated him, citing his continued ties to government corruption.
The sanctions freeze any US-based assets belonging to the designated individuals and prohibit American companies and citizens from conducting business with them. Financial institutions that violate these restrictions face penalties or enforcement actions.
The action came one day after President Donald Trump announced the seizure of an oil tanker off Venezuela's coast. The designated tankers include four Panama-flagged vessels, one from Hong Kong, and one from the Cook Islands, all accused of manipulating location transmissions to hide their loading of Venezuelan oil, CNN reported.
Ongoing Corruption Crackdown
Six shipping companies face sanctions for operating in Venezuela's oil sector and using deceptive practices. The vessels recently loaded crude oil in Venezuela and were transporting it to Asia, according to PDVSA internal documents.
The sanctions expand pressure on what US officials call Maduro's "narco-terrorist regime" and target the familial networks sustaining his government. Malpica, Campo, and Flores join Maduro himself, Cilia Flores, and several other family members already on the Treasury's sanctions list.
Venezuelan officials have not immediately responded to requests for comment. Maduro and his government have consistently denied links to criminal activities, asserting that US sanctions aim to achieve regime change and seize control of Venezuela's oil reserves, as per Aljazeera.
