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The U.S. Department of the Treasury has cleared Francisco D’Agostino from its Specially Designated Nationals (SDN) List, confirming that his companies were not linked to the Venezuelan regime.
The decision, as reported by Infobae, followed a comprehensive assessment by the Office of Foreign Assets Control (OFAC), which found no evidence to sustain the original sanctions imposed in 2021.
Those sanctions had been levied against D’Agostino and several of his firms, including Elemento Oil & Gas, Element Capital Advisor Limited, and D’Agostino and Company, based on allegations of involvement in oil-related activities that allegedly supported the government of Nicolás Maduro.
At the time, these allegations resulted in asset freezes and significant limitations on financial dealings in the United States.
However, the U.S. authorities now affirm that D’Agostino’s operations were entirely independent of any governmental collaboration, and the sanctions were lifted accordingly.
In addition to the U.S. developments, D’Agostino also recently won a legal dispute in Spain concerning the sale of Son Galcerán, a high-profile estate in Mallorca.
The Spanish court found that Manuel March Cencillo, grandson of Juan March Ordinas, founder of Banca March, had failed to meet contractual obligations, and ordered him to return €2.4 million, plus €300,000 in damages.
Francisco D’Agostino has been residing in Mallorca since 2019, where he remains engaged in international investment and financial activities.
