Jesús Daniel Romero and William Acosta for Poder & Dinero and FinGurú
General Context
Colombo-Venezuelan Monomers Public Limited Company (SA) is the largest fertilizer production company in Colombia, although it is a subsidiary of Petroquimica de Venezuela Public Limited Company (SA). Currently, the company is in the process of being sold, which has generated intense debate in the political and economic arena. President Gustavo Petro has expressed his opposition to the transaction, but reports indicate that he has been aware of the negotiations for weeks. The Maduro regime and President Petro are well aware that Monómeros operates under an OFAC license, sanctioned by the United States, which could be revoked by the incoming government of President Donald Trump.
Reasons for the Sale
Pressure from the Maduro Regime: The sale of Monómeros has been driven by Nicolás Maduro's regime, which seeks to dispose of assets before Donald Trump's inauguration in the United States in January 2025. The Venezuelan regime is reportedly concerned about a potential intervention by the future Trump administration through sanctions that could severely impact the company.
Irregular Financial Movements: It was revealed that Monómeros had made irregular payments to PEQUIVEN through a company in Hong Kong. Such transactions have raised suspicions about the legality of the company's operations and its potential violation of sanctions imposed by the U.S. government.
Sanction History: Monómeros has been under U.S. sanctions since 2017, limiting its ability to operate with banks and conduct commercial transactions. However, the previous administration of Juan Guaidó succeeded in suspending some sanctions, allowing the company to reactivate its operations.
Reaction from the Colombian Government
Statement from Gustavo Petro: President Petro has expressed his opposition to the privatization of Monómeros, arguing that this could lead to increased fertilizer prices for Colombian farmers and create dependence on a foreign company.
Change in Position: Despite his opposition, Petro was informed about the negotiations and had initially shown agreement with the sale. His change of stance has created uncertainty about the relationship between Colombia and Venezuela. The change in the U.S. presidency from a Biden administration to a Trump administration could force President Petro to seek and mediate through a restructuring favoring Colombia's social interests.
Details of the Negotiation
Sale Agreement: It has been reported that there is already a preliminary agreement for the sale of Monómeros for over $300 million to a multinational interested in the agrochemical sector. This transaction could be one of the most significant in the region, but it should be noted that the United States would be part of any negotiations regarding the future of this company.
Álex Nain Saab Morán: Saab, a known intermediary of the Maduro regime and current Minister of Industry and National Production of Venezuela, plays a crucial role in the negotiations. His experience in the sector could influence the course of the sale.
Implications for the Fertilizer Market: According to Monómeros, fertilizer production represents approximately 27.8 percent of the fertilizer market in Colombia, with plants in Barranquilla and Cartagena. Any change in its control could have a significant impact on the availability and prices of fertilizers in the country.
Implications of the Detention of Taskin Torlak: A New Chapter in Venezuela's Oil Crisis
The detention of Taskin Torlak, a Turkish businessman and oil broker in Florida, represents a crucial event in the fight against corruption and oil smuggling in Venezuela. Accused of conspiring to transport sanctioned oil, his arrest highlights the complex networks of complicity surrounding the Venezuelan oil industry, while also emphasizing the intersection between international politics and illicit economies.
Connections with PDVSA and the Context of Sanctions
Torlak was involved with Petróleos de Venezuela (PDVSA) between 2020 and 2023, generating over $32 million through illegal oil exports. This case illustrates the effectiveness of evasion tactics employed to circumvent the sanctions imposed by the OFAC since January 2019, designed to weaken the Maduro regime's ability to monetize its resources.
Operational Tactics and Deception
Investigations reveal that Torlak and his accomplices implemented sophisticated methods to conceal the origin of the oil, such as frequently changing the names and flags of tankers and disabling tracking systems. This not only reflects their ingenuity in evading international scrutiny, but also the lack of effective control within Venezuelan institutions, dismantled by corruption.
Matthew Graves, U.S. Attorney for the District of Columbia, has stated that Torlak's actions demonstrate a pattern of deceit that allows PDVSA operators to continue their illicit activities. His prosecution through U.S. financial institutions represents a serious violation of sanctions, with potentially broader legal repercussions for those involved in this network.
Corruption Network of Tareck Zaidan El Aissami Within PDVSA
Tareck El Aissami, former oil czar and former vice president of Venezuela, has been a central figure in the corruption network within PDVSA. His career is marked by multiple accusations of corruption, drug trafficking, and complicity in sanction evasion. El Aissami served as Minister of Oil from 2014 to 2017 and later held the position of Vice President for the Economic Area until 2020.
Corruption Network and Key Collaborators
Irregular Agreements: During his tenure, El Aissami facilitated irregular agreements that allowed companies and close allies to obtain multimillion-dollar contracts for the export of oil and the import of goods. These contracts often lacked transparency and were awarded to companies linked to his inner circle.
Collaboration with Businessmen: It has been documented that El Aissami worked closely with businessmen like Alex Saab and other intermediaries who facilitated oil smuggling and sanction evasion. These relationships have been key to maintaining the flow of illicit income to the regime.
Resource Manipulation: El Aissami was also accused of diverting resources from PDVSA to personal accounts and shell companies, allowing the embezzlement of funds intended for the production and maintenance of oil infrastructure.
Protection for Drug Traffickers: Intelligence reports have indicated that El Aissami has had ties with drug trafficking groups, providing protection and facilitation for drug trafficking in exchange for financial and political support. This has increased violence and corruption in the country, while reinforcing his power within the regime.
Arrests and Consequences: In April 2024, El Aissami was arrested for corruption, underscoring the deep governance crisis in Venezuela and the internal struggle for control of state resources. His downfall could trigger a domino effect among other corrupt officials in PDVSA and beyond.
Governments and Criminal Organizations that Facilitate Sanctions Violations
Several governments and criminal organizations have contributed to the evasion of sanctions imposed on the Maduro regime. Among them are:
Governments facilitating sanctions violations: Countries such as Russia, China, Iran, and Cuba have maintained commercial and political relations with Venezuela, providing support to the Maduro regime. These countries often ignore international sanctions and have established agreements allowing the exchange of oil and other resources.
Criminal organizations: Criminal groups in Venezuela, as well as in countries like Colombia, have actively participated in oil smuggling and sanctions evasion. These organizations benefit from the situation by facilitating the trafficking of illicit resources and products.
terrorist groups: Organizations like Hezbollah and Hamas have shown interest in establishing ties with the Maduro regime, using these connections to facilitate illicit operations. Additionally, groups like La Nueva Marquetalia, the Trendel Llano, and the Tren de Aragua have been connected to the regime, participating in narcotrafficking and smuggling activities that mutually benefit these organizations and the Venezuelan government.
Commercial institutions: Companies in various countries have collaborated with the Maduro regime in the illegal purchase and sale of oil. These institutions often operate in the shadows, using networks of fictitious companies to conceal their participation.
Banks: Some financial entities in allied countries have facilitated transactions that evade sanctions. These banks allow the movement of funds and money laundering, contributing to the sustainability of the Maduro regime.
Confiscation of Vessels for Sanction Evasion
Several vessels have been confiscated on various occasions for evading sanctions imposed on the Maduro regime. Notable examples include:
Vessel "Grace 1": This oil vessel was detained in Gibraltar in July 2019 for evading EU sanctions. Although it was ultimately released, the detention highlighted the actions of vessels transporting Venezuelan oil.
Vessel "Carmen": In January 2020, U.S. authorities confiscated this vessel carrying Venezuelan oil to Cuba, highlighting the connection between both countries and the violation of sanctions.
Vessel "Nicolas Maduro": In March 2021, this vessel was stopped by the U.S. Coast Guard for attempting to deliver oil to a country that was not authorized to receive it, showing the ongoing challenge to sanctions.
Vessel "Boris": This vessel was confiscated in December 2021 in Caribbean waters for transporting Venezuelan oil to an undeclared destination. Its capture was part of a broader operation to curb oil smuggling.
Vessel "Carmen de Patagones": This vessel, transporting Venezuelan crude oil, was stopped in October 2022 in the Caribbean Sea. U.S. authorities claimed it was violating the imposed sanctions.
A Strategic Approach to Dismantling Corruption
In a strategic sense, nations must implement a comprehensive approach that includes monitoring financial flows to identify, freeze, and confiscate illicitly obtained assets. This process should involve multiple government agencies, both at the national and international levels, to ensure a coordinated and effective response to corruption.
Furthermore, it is crucial to leverage financial monitoring technologies and international collaboration to track money in real-time. This would not only help dismantle the criminal networks operating in Venezuela but also allow for the recovery of misappropriated assets that could be utilized to restore democracy and rebuild the country in the future.
Collaboration with international organizations and the implementation of stricter sanctions against individuals and entities involved in corrupt activities are necessary steps to combat the cancer of corruption affecting Venezuelan society.
Interests: The Lobbying of Registered Agents Undermines the Purpose of Sanctions
Foreign agents registered in the United States lobbying for the interests of Monómeros undermine the intent of U.S. sanctions against the Venezuelan regime. This investigation reveals cHow American lobbyists represent Monómeros and maintain direct contact with the U.S. government.
In this particular case, documents including emails and publicly obtained records from the virtual electronic files of the Foreign Agents Registration Act (FARA) show that former U.S. ambassador Otto Reich served as a lobbyist for Monómeros. The signatures on these documents show his and Jorge Rodríguez's, signed on May 22, 2022. Additionally, emails have been found between Otto Reich and U.S. ambassador Brian Nichols, who acted as a lobbyist for Monómeros on June 29, 2022. There are also press articles reflecting Reich's lobbying relationship to discredit the Farabundo Martí National Liberation Front (FMLN).
Application for foreign agent registration (FARA):
[https://efile.fara.gov/docs/7116-Exhibit-AB-20220511-1.pdf](https://efile.fara.gov/docs/7116-Exhibit-AB-20220511-1.pdf)
Emails between Reich and Nicholson (FARA):
[https://efile.fara.gov/docs/7116-Informational-Materials-20220706-1.pdf](https://efile.fara.gov/docs/7116-Informational-Materials-20220706-1.pdf)
**Political Context and Consequences**
The detention of Torlak occurs in a volatile political environment. Although the Biden administration has granted licenses to some U.S. oil companies to temporarily operate with PDVSA, Trump’s reelection could mean new sanctions, especially in response to allegations of electoral fraud in Venezuela. This climate of uncertainty could exacerbate the economic crisis in the country, forcing Maduro’s regime to rely even more on intermediaries and illicit activities to sustain its government.
**Conclusions and Future Perspectives**
The potential sale of Monómeros is a delicate issue that reflects the complex political and economic relations between Colombia and Venezuela, as well as Maduro’s regime tactics to evade sanctions. As negotiations progress and with the recent detention of Torlak, the decisions made will not only affect the actors involved but also have repercussions on the Colombian agricultural market and the bilateral relationship between the two countries. Against the backdrop of possible sanctions and political changes, the future of Monómeros and the Venezuelan economy remains uncertain. Alternatively, it is possible that a solution favoring Colombia and Monómeros could be found through intermediaries such as U.S. ambassador Otto Reich or other Americans advocating for interests rather than for the new administration of President Donald Trump. The intersection of politics, economics, and corruption in Venezuela poses significant challenges for both the international community and the country's future. In the end, we will see the resolution of this problem through social interests led by a new administration.
**Credit:**
This information has been compiled and elaborated based on reports from media outlets such as El Colombiano, Insight Crime, Semana, El Tiempo, La Nación, and La República, among others, which have provided a comprehensive analysis of the current situation in Venezuela and its implications in the region. Additionally, online resources from U.S. agencies such as OFAC, the Justice Department, and emails between Otto Reich and Brian Nichols, and FARA concerning Monómeros were used.
Jesús Daniel Romero became an officer through the Navy's Enlisted Program and graduated with honors from Norfolk State University, receiving a Bachelor's Degree in Political Science. He later graduated from the Naval Aviation Pre-Flight Indoctrination Course of the Naval Aviation Schools Command and continued intermediate training in VT-10 and VT-86 squadrons. He served aboard a nuclear missile cruiser, amphibious operation ships, and staff squadrons, a fixed-wing bombing attack squadron, and a carrier air wing, and was deployed to Libya, Bosnia, Iraq, and Somalia. He served on tours with the Defense Intelligence Agency (DIA) in Panama, the Joint Intelligence Center in Hawaii, and the Joint POW/MIA Accounting Command. Jesús and his team successfully attacked an international criminal organization operating in several countries and in the United States, dismantling and disrupting criminal activities on behalf of Mexican cartels.
William L. Acosta is the founder and CEO of Equalizer Private Investigations & Security Services Inc., a licensed and bonded investigative agency in NYS and FL, with offices and affiliates worldwide. Equalizer maintains offices and subsidiaries in the United States in New York, Florida, and California. Since 1999, Equalizer's investigations have successfully closed hundreds of cases, ranging from homicides, missing persons, and other crimes. He has been involved in the criminal defense of hundreds of state and federal criminal defense cases ranging from homicide, narcotics, racketeering, money laundering, conspiracy, and other federal and state charges. He specializes in international and multi-jurisdictional investigations, and in recent years has conducted investigations in Germany, Italy, Portugal, Spain, France, England, Mexico, Guatemala, El Salvador, Honduras, Panama, Colombia, Venezuela, Argentina, Bolivia, Ecuador, Peru, Brazil, Puerto Rico, Dominican Republic, among others. He has directed or coordinated hundreds of investigations related to international drug trafficking, money laundering, and homicides; and has been an instructor and international speaker on various investigative topics. Specialties: Criminal Defense Investigations, International Investigations, Homicides, Undercover Narcotics Operations, Investigations, Asset Forfeiture Investigations, Conspiracy, International Human Trafficking, Surveillance, International Terrorism, Intelligence, Technical Surveillance Countermeasures, Internal Affairs Investigations, National Security.
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