The U.S. will not renew the license for Monómeros Colombo Venezolanos, thus preventing it from operating in Colombia. This decision is part of the strategy implemented by the U.S. government to undermine the finances of Nicolás Maduro’s regime.
The license for Venezuela’s second most valuable asset abroad will expire this June, and according to circulating information, the U.S. Department of the Treasury, through its Office of Foreign Assets Control (OFAC), is not willing to extend its validity beyond this date.
The Monómeros Colombo Venezolanos fertilizer plant has been sanctioned by the U.S. administration since 2019, but the issuance of a license allowed it to market its products and carry out certain financial transactions.
Financial Strain on Maduro’s Regime
While there is no official information on the matter, it is rumored that OFAC will indeed not renew the license, leading to the isolation of Monómeros Colombo Venezolanos from the financial system.
This situation would result in the collapse of the fertilizer plant, which currently produces 28% of Colombia’s fertilizers. Such a disruption would severely impact small Colombian farmers, the primary beneficiaries of products from the Barranquilla-based company.
In addition to fertilizers, Monómeros also supplies animal feed, caustic soda, and phosphoric acid.
In this way, the Trump administration achieves its goal of financially strangling the Venezuelan dictatorship. This new action, along with the revocation of Chevron’s license, signifies increasing pressure on the regime by restricting access to dollars for operations.
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