The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified Venezuelan national Pedro Luis Martin Olivares (Martin) as a significant foreign narcotics trafficker pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act).  Additionally, OFAC designated Walter Alexander Del Nogal Marquez (Del Nogal) and Mario Antonio Rodriguez Espinoza (Rodriguez) for materially assisting in, or providing financial or technological support for or to, or providing goods or services in support of, the international narcotics trafficking activities of Martin.  OFAC further designated 20 companies in Venezuela and Panama that are owned or controlled by these three individuals. 

“This action is in response to Martin’s extensive drug trafficking and money laundering activities. Systemic corruption and a collapse in the rule of law are defining features of Venezuela’s government,” said Secretary of the Treasury Steven T. Mnuchin.  “We will deny corrupt Venezuelan regime officials access to the US financial system as we work with international partners to support the Venezuelan people in restoration of democracy and a return to prosperity.”