U.S. Sanctions President of Colombia and Other Individuals
U.S. Sanctions President of Colombia and Other Individuals
On October 24, 2025 the U.S. Department of Treasury announced that, through its Office of Foreign Assets Control (“OFAC”), it is imposing individual sanctions against the President of Colombia, Gustavo Petro, as well as his wife, son, and “a close associate.”
As a result of the sanctions, all property and interests in property of the following newly designated blocked persons, that are in the United States or in the possession or control of U.S. persons, are blocked and must be reported to OFAC:
- Gustavo Francisco Petro Urrego (“Gustavo Petro,” President of Colombia)
- Nicolas Fernando Petro Burgos (“Nicolas Petro,” the former’s son)
- Veronica del Socorro Alcocer Garcia (Gustavo Petro’s wife)
- Armando Alberto Benedetti Villaneda (“Armando Benedetti,” who has held Colombian government positions)
Importantly, any entities that are owned, directly or indirectly, individually in the aggregate, 50 percent or more by one or more blocked persons above also are blocked unless authorized by a general or specific license issued by OFAC.
The sanctions are pursuant to Executive Order (E.O.) 14059, a 2021 Order issued during President Biden’s Administration and focused on the drug trade. President Petro is being designated for “having engaged in, or attempted to engage in, activities or transactions that have materially contributed to, or pose a significant risk of materially contributing to, the international proliferation of illicit drugs or their means of production.” The other individuals are being designated for “having provided, or attempted to provide, financial, material, or technological support for, or goods or services in support of, Gustavo Petro.”
Particularly for those doing business in Latin America, it would be prudent to:
- Evaluate whether they have any business with the above-listed individuals;
- Evaluate whether companies with which they do business have a nexus with / ownership by the above-listed individuals (and exercise extreme caution or cease doing business if such company has any such nexus; if the above-listed individuals own (even in combination) 50% or more of the company, the company will be subject to blocking sanctions.
The sanctions could affect U.S. and foreign companies as follows:
- U.S. parties would be prohibited from doing business with any of the sanctioned parties or any blocked entities 50% or more owned by sanctioned parties;
- U.S. parties in possession of property owned by the sanctions targets or in which the targets have an interest would be required to block the property and report it to OFAC;
- Foreign parties could be prohibited from engaging in transactions with the sanctioned parties (or companies owned by them) if transactions involve U.S. parties, goods, services, or U.S. dollar transactions;
- Transactions with sanctioned parties or companies they own could be subject to blocking or “freezes” by U.S. parties, including U.S. banks; and
- Foreign parties could be at risk of being sanctioned themselves if they provide material support, goods, or services to the sanctioned and blocked parties.
We hope this is helpful and please let us know if you have any questions.
Oliver M. Krischik okrischik@gkglaw.com
John H. Kester jkester@gkglaw.com
