Francisco Javier D’Agostino has been officially removed from the U.S. Treasury Department’s sanctions list, following a detailed review by the Office of Foreign Assets Control (OFAC). According to Intereconomía, the investigation concluded that his business dealings had no affiliation with the government of Nicolás Maduro.
The sanctions, originally imposed in 2021, included several of his companies—Elemento Oil & Gas, Element Capital Advisor Limited, and D’Agostino and Company—which had been accused of being part of a commercial network benefiting the Venezuelan regime. As a result, his assets were frozen and his access to the U.S. financial system was restricted.
Upon reviewing the case, OFAC determined that there was no evidence supporting the original claims, stating that D’Agostino’s operations were entirely commercial and independent. The agency then proceeded to remove him from the Specially Designated Nationals (SDN) List.
In addition, D’Agostino successfully resolved a separate legal dispute in Spain, where a court ruled in his favor in a case concerning the Son Galcerán estate in Mallorca. The judge ordered Manuel March Cencillo, grandson of Juan March Ordinas, founder of Banca March, to repay $2.73 million and pay $341,000 in damages for contractual and financial misconduct.
Since 2019, D’Agostino has resided in Mallorca, where he continues to lead international investment and financial strategy initiatives.
