Monthly Archives: December 2023

The US sanctioned Luis Miguel Martinez Morales

Posted on by

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Luis Miguel Martinez Morales (Martinez) for his role in corruption in Guatemala wherein he engaged in widespread bribery schemes, including schemes related to government contracts.

Since 2021, the U.S. government has sanctioned 11 individuals and entities in Guatemala for their roles in corruption. The Department of State also has used a range of visa restriction tools, to promote accountability for corrupt and undemocratic actors in Guatemala. These actions demonstrate the U.S. government’s continued commitment to stand by the Guatemalan people.

Martinez is the former head of the now-defunct Centro de Gobierno, a powerful quasi-cabinet level agency created by Guatemalan President Alejandro Giammattei (Giammattei) at the start of his administration.  President Giammattei was forced to shut down the Centro de Gobierno in December 2020 following backlash to Martinez’ rising power in the government.

Martinez has influenced the government contracts process to benefit himself and close associates.

In 2021, Martinez solicited large kickbacks to facilitate the purchase of the Russian Sputnik V vaccines by the Government of Guatemala. Guatemala’s special anti-corruption agency investigated Martinez for his role in a controversial payment tied to the purchase of 16 million doses of Russian Sputnik V COVID-19 vaccines by the Guatemalan government.

OFAC sanctions vessels for breaching Russia oil Price Cap

Posted on by

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing sanctions on three entities and identifying as blocked property three vessels that used Price Cap Coalition services while carrying Russian crude oil above the Coalition-agreed price cap.

“By targeting these companies and their ships, we are upholding the dual goals of the price cap by restricting Russia’s profits from oil while promoting stable global energy markets”

Deputy Secretary of the Treasury Wally Adeyemo

The crude oil price cap took effect in December 2022 with a cap on Russian crude oil at $60 per barrel. The vessels NS Champion, Viktor Bakaev, and HS Atlantica carried Russian Urals crude oil priced above $70 per barrel after the crude oil price cap took effect. The NS Champion, Viktor Bakaev, and HS Atlantica used U.S.-person services while transporting the Russian-origin crude oil.

United Arab Emirates-based (UAE-based) Sterling Shipping Incorporated is the registered owner of the NS Champion.

UAE-based Streymoy Shipping Limited is the registered owner of the Viktor Bakaev.

Liberia-based HS Atlantica Limited is the registered owner of the HS Atlantica.

Sterling Shipping Incorporated, Streymoy Shipping Limited, and HS Atlantica Limited were designated pursuant to Executive Order 14024 for operating or having operated in the marine sector of the Russian Federation economy. OFAC also identified the NS Champion, Viktor Bakaev, and HS Atlantica as property in which Sterling Shipping Incorporated, Streymoy Shipping Limited, and HS Atlantica Limited, respectively, have an interest.