U.S. Government Updates Kingpin Act Watch List with Venezuelan Nationals

This morning the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") published the name of four individuals whose property and interests in property have been blocked pursuant to the Foreign Narcotics Kingpin Designation Act ("Kingpin Act"), 21 U.S.C. 1901-1908, 8 U.S.C. 1182.

Enacted in 1999, the Kingpin Act establishes a program targeting the activities of significant foreign narcotics traffickers and their organizations on a worldwide basis. The Act provides a statutory framework for placing targeted economic sanctions against significant foreign narcotics traffickers and their organizations on a worldwide basis.

The primary objective of these sanctions is to deny listed persons and entities access to the U.S. financial system and the benefits of trade and transactions involving U.S. companies and individuals.

U.S. individuals and companies are probihited from engaging in transactions with persons and entities designated by the Act. Read the Federal Register notice here.