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March 29, 2026
March 28, 2026
People’s Progressive Party (PPP) General Secretary Dr. Bharrat Jagdeo said the government is neither vindictive nor harbours any animosity toward the Mohameds, but it must enforce US sanctions to protect Guyana’s financial system.
Speaking at his weekly press briefing at Freedom House, Dr. Jagdeo responded to claims made by Nazar “Shell” Mohamed that he and his son, Azruddin, were being targeted by the government.
Dismissing these allegations as untrue, he referenced the US Department of the Treasury’s Office for Foreign Assets Control (OFAC) sanctions imposed on the Mohameds and their businesses for allegedly evading US$50 million (almost GY$11 billion) in taxes on gold sales.
Dr. Jagdeo stated, “The entire banking and financial system could have been shut down if we allowed the Mohameds to keep their cambio and land vessels for coastal voyages licenses,” adding, “The government cannot do any business with the Mohameds because we (Guyana) can be sanctioned.”
The PPP General Secretary emphasised that the actions taken by the Guyanese government were solely a result of the sanctions the Mohameds had brought upon themselves.
“Mohamed believes that… the PPP, out of some perceived loyalty to him and Azruddin Mohamed, will put at risk the future and interests of all the people of this country for them because, somehow, somewhere down the line, he played marble with Cheddi Jagan,” Dr. Jagdeo said.
The Vice President also pointed out that Mohamed, in his statement, did not address the US allegations of tax evasion but instead sought to portray himself as a victim of unfair treatment by the PPP/C government.
Mohamed, he further noted, made false claims regarding visa revocations for individuals associated with them when he tried to put the blame on the PPP.
Once again referring to the OFAC sanctions, Dr. Jagdeo reiterated that these sanctions clearly state that anyone engaging in financial or business transactions with the Mohameds could also face penalties.
In its statement, OFAC announced that all property and interests in property belonging to the Mohameds that are located in the United States or within the possession or control of US persons are blocked and must be reported to OFAC.
Furthermore, any entities that are owned, directly or indirectly, either individually or collectively, by 50 per cent or more by one or more blocked persons are also subject to sanctions.
The statement further clarified that, unless authorised by a general or specific license issued by OFAC, or exempt, U.S. regulations generally prohibit all transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked individuals.
Additionally, financial institutions and other entities engaging in transactions or activities with the sanctioned individuals or businesses may themselves be at risk of sanctions or enforcement action.
The prohibitions include making any contributions or providing funds, goods, or services to, from, or for the benefit of any designated person.
