What happens to companies sanctioned by the US? Understand

The United States announced this Wednesday (1st) sanctions against four companies based in Brazil, for alleged links with the PCC (First Command of the Capital).

The companies are:

- Pixwave Soluções de Pagos LTDA, from Brazil;
- Victory Trading Intermediações de Negócios, Cobranças e Tecnologia LTDA, from Brazil;
- Wave Construções Inteligentes LDTA, from Brazil;
- Avenidas Flotuantes Unipessoal LDA, from Portugal.

According to the statement from the Treasury Department, the four listed companies would be linked to Victor Shimada.

The American government stated that the Brazilian is a link between the PCC in Florida and foreign drug traffickers. He allegedly laundered more than US$30 million in illicit resources generated in cities in and around the United States, using cryptocurrencies to transfer funds back to Brazil on behalf of the faction.

What happens to companies?
According to the United States statement, sanctioned people will have all their assets, which are in the country, blocked and reported to the Office of Foreign Assets.

In addition, any companies that are directly or indirectly owned by 50% or more of the sanctioned targets will also be blocked.

The US Office further prohibits all transactions by US persons within or transiting through the United States that involve any assets or interests in assets of blocked targets.

The document warns that violations of US sanctions could result in the imposition of civil or criminal penalties on residents and foreigners.

"OFAC may impose civil penalties for sanctions violations based on strict liability," the statement says.

Source: CNN