paraguay-sanctions
08 August 2024
OFAC sanctions Paraguayan tobacco company for links to designated ex-president
The US Office of Foreign Assets Control (‘OFAC’) has said that it is imposing sanctions on Paraguayan tobacco company Tabacalera del Este S.A. (‘Tabesa’) for providing financial support to Paraguay’s former president, Horacio Manuel Cartes Jara, who was designated in January 2023 for ‘involvement in corruption.’
OFAC said, 6 August, ‘While Cartes no longer owns Tabesa following a sales agreement to acquire Cartes’s shares in the company, Tabesa has made—and plans to continue making—payments worth millions of dollars to Cartes, despite Cartes’s designation.’
It also noted that licensed activities related to Tabesa pursuant to General License 7 under the Global Magnitsky Sanctions Regulations continue to be authorised.
