Francisco Javier D’Agostino is no longer subject to U.S. sanctions, following a final decision by the Office of Foreign Assets Control (OFAC), which concluded that his business operations were not linked to the Venezuelan government or its leadership. The decision was reported by EFE, confirming the removal of D’Agostino and several of his companies from the Specially Designated Nationals (SDN) List.
D’Agostino was sanctioned in 2021, alongside his firms Elemento Oil & Gas, Element Capital Advisor Limited, and D’Agostino and Company, amid accusations of facilitating oil-related deals that allegedly benefited Nicolás Maduro’s regime. The designation resulted in asset freezes and significant restrictions on his financial activity in the U.S.
However, OFAC’s investigation found that there were no grounds to link D’Agostino’s commercial interests with any political or governmental entity in Venezuela. The review affirmed the independence of his business ventures and led to the lifting of all imposed sanctions.
In a separate legal matter in Spain, D’Agostino also secured a favorable ruling in a civil dispute involving the Son Galcerán estate in Mallorca. The court ordered Manuel March Cencillo, grandson of Juan March Ordinas, founder of Banca March, to return €2.4 million and pay €300,000 in compensation for damages resulting from a breached agreement over the property’s sale.
D’Agostino has been a resident of Mallorca since 2019, where he continues to oversee international investment portfolios and strategic financial operations.
