Vice President, Dr. Bharrat Jagdeo, has outlined that US sanctions against Azruddin Mohamed and his father Nazar “Shell” Mohamed and Chinese companies the government conducts business with are unrelated.
Speaking on the latest edition of the Starting Point podcast, Dr. Jagdeo explained the risks for Guyana if Office of Foreign Assets Control (OFAC)-sanctioned presidential candidate Azruddin Mohamed is elected.
He noted that the country could face sanctions and be in trouble with the United States of America.
“His sanctions, they are serious sanctions. Couple days ago they sought to say that some Chinese companies are sanctioned…those are different sorts of sanctions,” he said.
Dr. Jagdeo went on to explain the difference between the unrelated sanctions and what they mean for investment.
“US individuals and companies can’t invest securities in these companies, but they are functioning worldwide, including in many countries in Europe and developed countries of the world. His sanctions came under those reserved for people with drug trafficking, money laundering, gold smuggling, corruption, etcetera. With a serious set of consequences,” he stressed.
He further explained that, on the other hand, the sanctions against Mohamed prohibit people and companies from being involved with him, in addition to financial institutions and others.
Dr. Jagdeo pointed out that this is evident, as several people associated with Mohamed have since lost their United States visas and bank accounts.
