U.S. Treasury Department designates a Paraguayan tobacco company for supporting former President of Paraguay

The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department designated the Paraguayan tobacco company Tabacalera del Este S.A. ("TABESA") for providing financial support to former Paraguayan President Horacio Manuel Cartes Jara, who was sanctioned by OFAC on January 26, 2023, for his involvement in corrupt acts.

As a result of the action taken, all assets and interests of TABESA in the United States or under the control of U.S. citizens have been blocked and must be reported to OFAC. This includes entities that are 50% or more owned by TABESA.

U.S. persons or companies are prohibited from engaging in transactions involving these assets without OFAC authorization.

Additionally, those who conduct transactions or activities with TABESA may face sanctions. The prohibitions include any contribution, funds, goods, or services from or for TABESA.

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