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Two Panamanian CLAP Intermediaries Safe from Tornado of Sanctions

The tension between the governments of Nicolás Maduro and Juan Carlos Varela is nonstop. But the surge of trade retaliations from both capitals peculiarly leaves some of the companies that since 2017 provide merchandise to Chávez’s flagship program (the Local Supply and Production Committees - Clap) unharmed. Two of these companies show the profile of opportunistic shell companies.

15/04/2018 0:00:00

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The ban that the Venezuelan Government recently imposed to almost a hundred Panamanian companies is showing its true colors. The fuss and dialogue of Nicolás Maduro Government officials suggest a trade breakup with Panama. But a thorough review of the Caracas blacklist reveals the precision with which Venezuelan authorities avoid to incur "collateral damage," thus evading the incorporation of registered companies or companies operating in the isthmus that act as intermediaries in the supply business of imported food for the Local Supply and Production Committee (Clap) in Venezuela. Incidentally, they do not appear among the companies sanctioned by the Panamanian Government of Juan Carlos Varela either.

Some example are FB Foods LLC and Wellsford Trading Corp, two shell companies incorporated in the Panamanian capital that have been active in the shipment of supplies for the Claps, a program implemented two years ago, aimed to ease the ravages of the chronic shortage of essential goods among the low-income population - the electoral customers of Chavism.