The U.S. Department of the Treasury has put new sanctions on three Venezuelans and 20 entities for connections to drug trafficking.
U.S. Vice President Mike Pence announced the new sanctions on Venezuela during a speech Monday at the Organization of American States in Washington.
Condemning Venezuelan president Nicolas Maduro's regime, Pence said the upcoming elections in Venezuela would be a "fake election with a fake outcome," calling on Maduro to postpone them.
"Suspend this sham election. Hold real elections, give the people of Venezuela real choices" Pence said "because the Venezuelan people deserve to live in democracy once again".
The U.S. Treasury's Office of Foreign Assets Control (OFAC) identified Venezuelan nationals Pedro Luis Martin Olivares (Martin), "as a significant foreign narcotics trafficker pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act)", according to a statement.
Walter Alexander Del Nogal Marquez (Del Nogal) and Mario Antonio Rodriguez Espinoza (Rodriguez) were also identified "for materially assisting in, or providing financial or technological support for or to, or providing goods or services in support of, the international narcotics trafficking activities of Martin."
“This action is in response to Martin’s extensive drug trafficking and money laundering activities. Systemic corruption and a collapse in the rule of law are defining features of Venezuela’s government,” said Secretary of the Treasury Steven T. Mnuchin, according to the statement.
“We will deny corrupt Venezuelan regime officials access to the U.S. financial system as we work with international partners to support the Venezuelan people in restoration of democracy and a return to prosperity.”
OFAC also identified 20 companies in Venezuela and Panama linked to the three men.
In January, the United States sanctioned four current or former Venezuelan officials associated with corruption or repression in Venezuela.
