New Venezuela sanctions target state-run gold mining operations

The Office of Foreign Assets Control of the US Department of the Treasury has designated CVG Compania General de Mineria de Venezuela CA (Minerven), a Venezuelan state-run metals mining company, and the company’s president, pursuant to Executive Order 13850, as amended.  In a statement announcing the designations, the Department of the Treasury described the mines in southern Venezuela as dangerous for the miners and the environment, controlled by the regime of Nicolas Maduro, and operated under the supervision of the Venezuelan military. As a result of the designation, all US property and interests in property of Minervan or Adrian Antonio Perdomo Mata, the company’s president, and entities owned directly or indirectly by them, are blocked and must be reported to OFAC.

US Treasury press release