The United States government has intensified its economic campaign against the Venezuelan regime by imposing targeted sanctions on three nephews of President Nicolás Maduro, alongside other key figures and entities. The Treasury Department’s Office of Foreign Assets Control designated Franqui Flores, Carlos Flores, and Efrain Campo on Thursday, effectively freezing any U.S. assets and prohibiting American citizens and companies from conducting business with them.
This strategic move follows Wednesday’s seizure of a Venezuelan oil tanker and represents a coordinated effort to disrupt Caracas’ petroleum export capabilities. The sanctions package additionally encompasses Panamanian businessman Ramon Carretero, six commercial firms, and six Venezuela-flagged vessels allegedly involved in transporting Venezuelan crude oil. Treasury officials allege Carretero has facilitated oil shipments for the Venezuelan government while maintaining business partnerships with the Maduro-Flores family network.
Treasury Secretary Scott Bessent articulated the administration’s position, stating that “Nicolas Maduro and his criminal associates in Venezuela are flooding the United States with drugs that are poisoning the American people.” He further emphasized that “Under President Trump’s leadership, Treasury is holding the regime and its circle of cronies and companies accountable for its continued crimes.”
The latest sanctions occur within a broader context of escalating tensions. Recent months have witnessed deadly U.S. strikes against alleged drug-smuggling vessels in Caribbean and eastern Pacific waters, resulting in numerous casualties. The Trump administration has characterized these actions as necessary measures in what it describes as an “armed conflict” against international drug cartels.
Historical context reveals this isn’t the first confrontation involving Maduro’s relatives. In October 2022, Venezuela secured the release of Flores and Campo—previously convicted on narcotics charges—through a prisoner exchange that freed seven imprisoned Americans. Carlos Flores had previously been sanctioned in 2017 before being temporarily delisted during the Biden administration to facilitate diplomatic negotiations regarding Venezuelan democratic elections.