‘Gov’t will put financial system, country at risk if it does business with Mohameds’ – Jagdeo

Guyana’s Vice President, Dr. Bharrat Jagdeo said the country would be at-risk if it continued to do any business with the Mohameds because of the sanctions handed down on the family and their businesses by the United States Department of the Treasury.

As such, Jagdeo said, all business ties have to be severed.

“We’re never going to put the interest of a single individual, particularly if you were accused of doing something so illegal that you bring US sanctions down on your head.

“We could shut down the entire financial system if we allowed the Mohameds to continue owning a cambio license. The banks cut all ties. Just imagine if they would continue allowing the Mohameds to do business with them – they could be subjected to US sanctions,” he told reporters at his weekly press conference.

He addressed the issue in response to a statement made by Mr. Nazar Mohamed. Mr. Momahed accused the government of disadvantaging him and his family’s businesses.

Jagdeo said that was not the case.

“They want us to defy the US government sanctions and risk the lives and livelihoods of people in Guyana? That is why we have had to disengage,” Jagdeo said.

Nazar Mohamed and his son, Azruddin, were sanctioned by the US Department of the Treasury. Ventures associated with the Mohamed’s family, namely Mohamed’s Enterprise, Hadi’s World, and Team Mohamed’s Racing, were also sanctioned.

The Bank of Guyana revoked the Mohamed’s cambio license; mining and cabotage licenses were not renewed.

Jagdeo also responded to other claims made by Mr. Mohamed. The Vice President said the Mohameds weren’t being targeted by the People’s Progressive Party Civic (PPP/C) administration but noted that the government reserves the right to defend itself.