OFAC designates seven Maduro-linked family members, issues Venezuela bond license
The Treasury Department’s Office of Foreign Assets Control on Dec. 19, 2025, designated seven individuals linked to Venezuelan officials and issued Venezuela-related General License 5T covering certain PdVSA 2020 bond transactions starting Feb. 3, 2026.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Dec. 19, 2025, sanctioned several family members and associates tied to the Maduro-Flores family, updating the Specially Designated Nationals and Blocked Persons List (SDN List).
OFAC said the designations were made under Executive Order 13850. The press release states the action targets what it described as the “narco-corruption structure” supporting Nicolás Maduro’s regime, focusing on familial networks connected to Carlos Erik Malpica Flores and Panamanian businessman Ramon Carretero Napolitano.
OFAC stated it designated immediate adult family members of Malpica Flores, who OFAC said it had sanctioned on Dec. 11, 2025, under Executive Order 13692 for being a current or former official of the Government of Venezuela. OFAC also designated two immediate family members of Ramon Carretero, building on his Dec. 11, 2025, designation.
As a result of the designations, OFAC said all property and interests in property of the designated or blocked persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. OFAC also said entities owned, directly or indirectly, individually or in the aggregate, 50% or more by one or more blocked persons are also blocked.
OFAC said its regulations generally prohibit, unless authorized by general or specific license or exempt, all transactions by U.S. persons or within (or transiting) the United States involving any property or interests in property of blocked persons.
Separately, OFAC’s “Recent Actions” notice for Dec. 19, 2025, said the agency issued Venezuela-related General License 5T, titled “Authorizing Certain Transactions Related to the Petróleos de Venezuela, S.A. 2020 8.5 Percent Bond on or After February 3, 2026.” The license states that, on or after Feb. 3, 2026, certain otherwise prohibited transactions related to the PdVSA 2020 8.5% bond are authorized, subject to stated limitations, and that effective Dec. 19, 2025, General License 5S is replaced and superseded in its entirety.
OFAC also said it published an amended Venezuela-related Frequently Asked Question, FAQ 595.
Regulatory Actions
Structured data extracted from official sources and validated by sanctions experts