Breaking News: US Treasury Imposes OFAC Sanctions On Colombian President Gustavo Petro, Family & Armando Benedetti

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) today placed sitting Colombian President Gustavo Petro on its Specially Designated Nationals and Blocked Persons (SDN) List. The action, taken pursuant to Executive Order 14059, which targets foreign persons involved in the international proliferation of illicit drugs, marks an un precedented escalation in sanctions policy against a head of state from a key US ally in the region.

The designations signal a formal determination by the US Treasury Department that these individuals have materially contributed to, or pose a significant risk of materially contributing to, the global illicit drug trade. The action was announced in a Treasury press release detailing the sanctions against the President and his support network, and comes as an escalation in the public spat between Petro and US President Donald Trump.

The Scope of the Designations

Petro with his wife, Veronica Alcocer in Venezuela (Photo: Alexa Rochi, Presidency of Colombia)

The individuals added to the SDN List include:

• PETRO URREGO, Gustavo Francisco (DOB 19 Apr 1960), President of Colombia, designated under the counternarcotics authority of Executive Order 14059.
• ALCOCER GARCIA, Verónica del Socorro (DOB 26 May 1976), President Petro’s wife, designated as linked to Gustavo Francisco Petro Urrego.
• PETRO BURGOS, Nicolás Fernando (DOB 21 Jun 1986), President Petro’s son, designated as linked to Gustavo Francisco Petro Urrego.
• BENEDETTI VILLANEDA, Armando Alberto (DOB 29 Aug 1967), a former diplomat and high-ranking Colombian official, designated as linked to Gustavo Francisco Petro Urrego.

The designations effectively place the individuals in a restrictive financial status typically reserved for terrorists, international criminals, and officials of sanctioned regimes.

The President’s son, Nicolás Petro is already on trial in Colombia by Colombian prosecutors for corruption and dealings with narcotraffickers. Even with his father as president, he has been able to avoid arrest and detention, with his jilted wife, Daysuris Vasquez, serving as a key witness against him.

Petro’s Interior Minister and primary political consigliere, Armando Benedetti has also been sanctioned. Petro’s own former Foreign Minister, Alvaro Leyva has publicly accused the president of being a cocaine addict, while Benedetti has openly admitted that he is a recovering cocaine and alcohol addict.

Immediate Financial and Legal Implications

The designation to the SDN List carries defined and severe consequences under US law, primarily centered on financial blocking:

The sanctions imposed on Petro, his family, & Benedetti are commonly known as being added to “the Clinton List.”

1. Asset Blocking: All property and interests in property of the four designated individuals that are within US jurisdiction, or that come within the possession or control of any US person, are immediately blocked (frozen). This requires US financial institutions and entities to report the blockage of funds, real estate, securities, or other assets to OFAC.
2. Transaction Prohibition: US persons—a category that includes US citizens and permanent residents, entities organized under US laws (and their foreign branches), and any person located within the United States—are prohibited from engaging in any transaction or dealing with the designated individuals. This prohibition extends to making or receiving any contribution or provision of funds, goods, or services to or for the benefit of an SDN.
3. The 50 Percent Rule: Any entity owned, directly or indirectly, 50% or more by one or more of the designated individuals is also considered blocked, regardless of whether that entity is explicitly named on the SDN List.

Furthermore, the names are integrated into global compliance screening databases used by most international banks and financial institutions. This development is expected to isolate the designated individuals from the global financial system, making routine actions such as international wire transfers, opening bank accounts, and using credit services highly problematic or impossible.

Impact on Petro’s Future

The SDN designations carry different risks based on the current and future governmental status of the designated officials.

Current Term (Until August 2026)

President Gustavo Petro posing for a photo with his son Nicolás Petro. (Credit: Presidencia de la Republica)

While President Petro holds his position, official governmental dealings between the US and Colombia may continue, potentially protected by principles of sovereign immunity. However, the designation is applied to him as an individual for illicit activities, not in his capacity as head of state.

• Official Duties: US government agencies and diplomats are restricted from conducting personal or financial transactions with the President, which complicates interactions beyond the necessary official capacity.
• Personal Finances: Any personal US-based assets the four individuals may have are blocked. Their personal finances and travel outside of Colombia become subject to severe scrutiny, as non-US financial institutions that engage in transactions with him risk being targeted by secondary sanctions.
• Previous Visa Status: This financial sanction follows a previous action where President Petro’s US visa was revoked earlier this year after he called on the US military to rebel while participating in a pro-Palestine protest in New York. The SDN designation solidifies his inability to travel to the United States and extends the US financial prohibition globally.
• Petro’s wife, son, and Armando Alberto Benedetti face the full immediate weight of the financial sanctions, including total blocking of any US assets and prohibition of transactions with US persons.

Post Presidency

When President Petro’s term ends in August 2026, he and his family will lose any residual protections or considerations afforded by his presidential office.

• Total Isolation: The post-term status is expected to result in complete global financial isolation for all four individuals. Without the shield of public office, any attempt to conduct legitimate business, investment, or banking internationally would be flagged and rejected by compliance systems worldwide due to the fear of secondary sanctions against foreign entities.
• Legal Exposure: The designations are intended to prevent the designated individuals from utilizing the international financial system. Any attempt by the sanctioned persons to circumvent these restrictions after leaving office could result in further investigations and potential criminal charges by US authorities.

Headline image: Colombian President Gustavo Petro (left) with Interior Minister Armando Benedetti (photo: Presidency of Colombia)