US sanctions Venezuelan gang allegedly linked to Maduro
WASHINGTON : The US treasury on Friday announced sanctions against a Venezuelan group which it claims is led by president Nicolas Maduro, alleging it backs leading drug cartels.
The treasury's office of foreign assets control (OFAC) announced restrictions on the so-called 'Cartel of the Suns,' classing it as a Specially Designated Global Terrorist entity.
The OFAC agency, which determines sanctions based on US foreign policy, says the group is 'headed by Nicolas Maduro' and 'other high-ranking Venezuelan individuals in the Maduro regime'.
It also alleged the cartel 'provides material support' to the Tren de Aragua and the Sinaloa Cartel – criminal gangs designated by president Donald Trump's administration as terrorist groups.
'Today's action further exposes the illegitimate Maduro regime's facilitation of narco-terrorism through terrorist groups like Cartel de los Soles,' treasury secretary Scott Bessent said in a statement.
Trump's first-term administration indicted Maduro and several of his top aides for 'narco-terrorism' and offered a reward for their capture, claims that were slammed by the leftist Venezuelan leader.
According to Trump's government, 'Cartel de los Soles' has an objective of 'using the flood of illegal narcotics as a weapon against the US.'
Trump has targeted several groups south of the US border that he says are funnelling vast amounts of dangerous illicit drugs into the US and are involved in extortion, migrant smuggling and other violent crimes.
Relations between Washington and Caracas have been deteriorating for years.
In 2019, the US contested Maduro's re-election, which was widely deemed as fraudulent by the international community.
Trump this year announced a partial ban on travellers from Venezuela, among a dozen countries.
On Thursday, Maduro announced that the US was allowing petroleum giant Chevron to resume operations in the South American country after previously slapping sanctions. Washington has not confirmed the development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Cambodia to nominate Donald Trump for Nobel Peace Prize, says deputy PM
PHNOM PENH (Reuters): Cambodia will nominate US President Donald Trump for the Nobel Peace Prize, its deputy prime minister said on Friday, following his direct intervention in halting the South-East Asian country's recent border conflict with Thailand. Asked via text message to confirm Cambodia's plan to nominate Trump for the prize, Chanthol responded, "yes." Speaking to reporters earlier in the capital, Phnom Penh, Chanthol thanked Trump for bringing peace and said he deserved to be nominated for the prize, the highest-profile international award given to an individual or organisation deemed to have done the most to "advance fellowship between nations". Pakistan said in June that it would recommend Trump for the Nobel Peace Prize for his work in helping to resolve a conflict with India, and Israeli Prime Minister Benjamin Netanyahu said last month he had nominated Trump for the award. It was a call by Trump last week that broke a deadlock in efforts to end the heaviest fighting between Thailand and Cambodia in over a decade, leading to a ceasefire negotiated in Malaysia on Monday, Reuters has reported. Following the truce announcement, White House spokeswoman Karoline Leavitt said in a post on X that Trump made it happen. "Give him the Nobel Peace Prize!," she said. At least 43 people have been killed in the intense clashes, which lasted five days and displaced more than 300,000 people on both sides of the border. "We acknowledge his great efforts for peace," said Chanthol, also Cambodia's top trade negotiator, adding that his country was also grateful for a reduced tariff rate of 19%. Washington had initially threatened a tariff of 49%, later reducing it to 36%, a level that would have decimated Cambodia's vital garment and footwear sector, Chanthol told Reuters in an interview earlier on Friday. (Reporting by Martin Petty in Bangkok and Chantha Lach and Zaw Naing Oo in Phnom Penh; Writing by Devjyot Ghoshal) - Reuters
The Star
9 hours ago
- The Star
Philippines' Marcos eyes India trade, defence in talks with Modi
MANILA: Philippine President Ferdinand Marcos Jr (pic). will discuss trade and defense relations with India when he meets with Prime Minister Narendra Modi during a state visit to the South Asian nation next week. "They are also expected to exchange views on regional and international issues of common concern,' Foreign Affairs Assistant Secretary Evangeline Ong Jimenez-Ducrocq said in a briefing on Friday (Aug 1). Marcos' trip to India is set on Aug. 4-8 upon Modi's invitation. "We recognise the economic and strategic potentials of India, and we hope to open up possibilities for the future,' Jimenez-Ducrocq said. Marcos' efforts to expand economic cooperation with India, one of the world's largest and fastest-growing economies, come amid the implementation of US President Donald Trump's tariffs this month. The 19 per cent tariff imposed on Philippine goods is on par with many other South-East Asian nations, removing a trade advantage that Manila had touted when the US initially threatened a 17 per cent levy in April, which was among the lowest rates in the region that time. The US levy on India's goods is set at 25 per cent. Marcos' visit to India also comes at a time when the two nations - which face a similar security concern - are improving defence ties. Manila has a territorial dispute with Beijing in the South China Sea while New Delhi has a border row with China over the Himalayas. The Philippine and Indian navies are set to hold joint maritime exercises in waters facing the South China Sea from Sunday, Philippine military chief Romeo Brawner Jr. told reporters on Thursday evening. Brawner said Manila is looking at ordering more weapons systems and equipment from India. The Philippines previously procured a shore-based anti-ship missile system from India's BrahMos Aerospace Pvt. Ltd., a contract worth 18.9 billion pesos (US$324 million), as the nation boosts its coastal defense. "We still have two sets of BrahMos systems that will arrive in the next few years,' Brawner said, adding that other weapons systems of the Philippine Navy are also from India. "We found out that what's made in India are of high quality but not too costly. So it's good if we partner with India.' - Bloomberg
The Star
12 hours ago
- The Star
Stocks struggle as Trump unveils new tariff sweep
HONG KONG: Asian markets mostly fell Friday (Aug 1) as Donald Trump announced tariffs on dozens of trading partners ahead of a self-imposed deadline, offsetting strong earnings from tech giants. With hours to go before the US president's deadline for governments to make toll-averting deals, he unveiled a list of sweeping levies he had decided to impose upon those still in talks. However, he did provide a minor reprieve by saying the measures will take effect next Friday. Governments around the world have been scrambling to cut agreements with the White House since Trump unveiled his bombshell "Liberation Day" tariffs on April 2, which included 10 per cent across the board and then targeted "reciprocal" ones. He then delayed implementation of the reciprocals until July 9, and then August 1, and next week. Some countries reached deals, including Japan, the European Union, Britain and recently South Korea, but most are yet to do so. China remains in talks with Washington to extend a fragile truce in place since May. For those in the crosshairs of the latest outburst, the measures range from 10 percent to 41 per cent. Canada was singled out for a 35 per cent hit, with Trump earlier hitting out at its failure to deal cross-border drugs issues and Ottawa's plan to recognise a Palestinian state. Taiwan faces 20 per cent "temporary" duties, with its President Lai Ching-te saying there was a possibility of reductions should an agreement be reached, while Cambodia welcomed a 19 per cent rate as it was well down from the initial 36 per cent initially threatened. Asian equities mostly fell as they contemplate the impact on the global economy. Tokyo, Hong Kong, Shanghai, Sydney, Wellington and Taipei were all down. Seoul dived more than three per cent as the South Korean government considers higher taxes on corporations and stock investors to shore up revenue. There were gains in Singapore, Manila and Jakarta. "Overall, the tariffs are relatively expected for Asia," said Lorraine Tan, Morningstar director of equity research in Asia. "The fact that the larger export countries such as Korea and Japan are at 15 per cent and the South-East Asian countries are at 19 percent is a fairly reasonable outcome especially after the initial April 2 shock. Hence we think the markets should shrug this news off." The losses tracked a sell-off on Washington, where traders' hopes for a September interest rate cut were dented by data showing the Federal Reserve preferred gauge of inflation rose more than expected last month and topped forecasts. The figures came a day after the central bank appeared guarded about the outlook, even as Trump puts pressure on boss Jerome Powell to reduce borrowing costs. "US interest rate traders have lowered the implied probability for a cut from the Fed in September... and as such, the central position is progressively leaning to the Fed keeping rates on hold in the September (policy) meeting," Chris Weston of Pepperstone said. The tariff uncertainty overshadowed earnings from major tech titans this week that saw Apple on Thursday post double-digit quarterly revenue growth that beat expectations. And Amazon said quarterly profits jumped 35 per cent as key major investments in AI technology pay off, though its outlook for the next three months disappointed. Google, Microsoft and Meta have also posted bumper results for the period. On currency markets the Taiwan dollar spiked above 30 to the greenback for the first time since June, while the yen remained under pressure as the Bank of Japan holds off hiking rates and Fed expectations sink. - AFP
