Venezuela’s president, Nicolas Maduro, has threatened to at least attempt to continue Venezuela’s abuse of INTERPOL’s Red Notice system.
The paper product supplier Kimberly-Clark stopped production in Venezuela several weeks ago, in the midst of Venezuela’s worsening economic crisis. Venezuelans already wait for hours in lines on a daily basis in an effort to obtain basic supplies such as toilet paper, diapers, and personal products. The absence of Kimberly-Clark’s products will certainly exacerbate the shortage. Just as numerous other companies have done recently, Kimberly-Clark cited a shortage of currency and raw materials in addition to soaring inflation rates as contributing factors to its inability to continue doing business in Venezuela.
President Maduro quickly accused the company of violating the country’s constitution and laws, and announced his intention to seek the INTERPOL-assisted arrest of Kimberly-Clark representatives. His announcement serves to remind privately held companies that, in addition to evaluating basic economic factors when determining where to conduct business, they must also evaluate the stability of the controlling government as well as its improper use of the judicial system in order to achieve its goals.
If President Maduro makes good on his threat, we can expect to see Red Notices requested for a host of politically motivated, financial crimes; INTERPOL will be left to evaluate the validity of those requests; and the attorneys for the Kimberly-Clark representatives will have to seek the removal any of the Red Notices that are issued.
As always, questions and comments are welcomed.
