Financial analyst Joel Bhagwandin has cautioned against drawing parallels between the sanctions imposed on China Railway Construction and those leveled at Mohamed’s Enterprise in Guyana. He notes that equating these sanctions can lead to a distorted understanding of the severity of the offenses involved.
Bhagwandin made this clarification in response to online posts that sought to draw comparisons between the two sets of sanctions.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on China Railway Construction, a Chinese company contracted to build Guyana’s new Demerara Harbour Bridge, under a capital market restriction pursuant to a US Executive Order targeting companies linked to the Chinese military. This measure prohibits US persons from investing in the company’s securities but does not freeze assets or impose trade bans.
In contrast, sanctions were imposed on Mohamed’s Enterprise and its principals in Guyana for alleged roles in public corruption, money laundering, gold smuggling, drug trafficking, and other serious offenses under Executive Order 13818. These measures include full blocking sanctions, which freeze all property and interests in property within US jurisdiction.
Bhagwandin emphasizes that the two sets of sanctions are
Source: guyanachronicle.com
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