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Investing.com -- The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated Colombian President Gustavo Petro under counternarcotics authorities, along with several of his close supporters.
Treasury Secretary Scott Bessent stated that since Petro took office, cocaine production in Colombia has reached its highest rate in decades, "flooding the United States and poisoning Americans." Bessent added that President Petro "has allowed drug cartels to flourish and refused to stop this activity."
The sanctions were implemented under Executive Order 14059, which targets individuals involved in the global illicit drug trade. Colombia remains the world’s leading producer and exporter of cocaine, with Mexican cartels often purchasing Colombian cocaine before smuggling it across the U.S. southern border.
Petro, a former guerrilla member elected in 2022, was sanctioned for policies including his "total peace" plan, which the Treasury claims has led to record highs in coca cultivation and cocaine production. On September 15, the U.S. President determined Colombia was "failing demonstrably" to uphold its drug control responsibilities.
The Treasury also cited Petro’s 2024 sharing of confidential information obtained through secure anti-money laundering channels, which led to the suspension of Colombia’s Financial Intelligence Unit from The Egmont Group. Additionally, the department noted Petro’s alliance with Nicolas Maduro’s regime and the Cartel de Los Soles.
Three of Petro’s associates were also sanctioned: his son Nicolas Fernando Petro Burgos, his wife Veronica del Socorro Alcocer Garcia, and close associate Armando Alberto Benedetti Villaneda.
Nicolas Petro, described as his father’s political heir, was arrested in 2023 for money laundering and illicit enrichment related to allegations he channeled money from drug traffickers into his father’s campaign. First Lady Alcocer Garcia was previously appointed to an ambassadorial role that was later annulled by a Colombian court as unconstitutional.
Benedetti, who has held multiple high-ranking positions in Petro’s government including his February 2025 appointment as Interior Minister, was implicated in leaked audio recordings discussing campaign financing for Petro.
The sanctions block all U.S.-based property and interests of the designated individuals and prohibit transactions involving them by U.S. persons or within U.S. jurisdiction.
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