Billionaire businessman Azruddin Mohamed says he is optimistic that the United States will soon lift the financial sanctions imposed on him, as he launched his political party’s manifesto on Thursday, ahead of Guyana’s September 1 general and regional elections.
Mohamed, who was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) in June 2024 for allegedly evading US$50 million in taxes linked to more than 10,000 kilograms of undeclared gold exports, told reporters that his legal team is working with OFAC to have him delisted.
“I think, I am being very optimistic that very soon I will be delisted so that we can work together with the United States of America,” he said. During the launch of his We Invest In Nationhood (WIN) party’s manifesto, he declared, “When we take office on the 2nd of September, the United States of America will work with us,” citing what he described as improved relations between U.S. President Donald Trump and Syrian leader Ahmed al-Sharaa.
U.S. Ambassador to Guyana, Nicole Theriot, on Wednesday raised concerns about the potential implications for U.S.-Guyana relations should a sanctioned individual hold public office, suggesting such developments could trigger a review or pullback of American investments in the country.
Responding, Mohamed defended his candidacy. “This is a sovereign nation. This is the will of the people, they want me to run for office. That is why I declared my candidacy – the people of this country,” he said.
Mohamed also linked Guyana’s current foreign exchange strain to the sanctions against him. “Since I was sanctioned, the financial system within the bank – heavy shortage of foreign currency – but they won’t say this,” he claimed. He declined to directly comment further on the OFAC allegations, adding only, “I don’t know about that,” and maintained he is one of the country’s top taxpayers.
As part of his campaign platform, Mohamed promised sweeping economic changes, including an increase in the income tax threshold from GY$130,000 to GY$200,000, a 50 percent salary hike, cuts in duties on several vehicle categories, and a GY$100,000 monthly pension for 85,000 pensioners—estimated to cost GY$60 billion annually. He said these policies would be funded by reducing “wasteful spending and corruption.”
“We have the money, Sir,” he declared, though specific costs for the full slate of proposals were not provided.
WIN also pledged to renegotiate the 2016 Production Sharing Agreement with ExxonMobil, enforce ring-fencing rules for oil block development costs, and publish all extractive industry contracts and spending. The party says it will strengthen financial transparency through a centralized, searchable portal.
Mohamed further vowed to clamp down on alleged gold smuggling operations, which he claimed are connected to political insiders.
Among WIN’s proposed social policies are increased public assistance for individuals living with HIV and cancer (from GY$14,000 to GY$30,000), a GY$100,000 annual school grant, and possible increases to the private sector minimum wage. WIN member Dawn Hastings also said the party would work with the National Toshao’s Council to create a credit union for Indigenous communities and increase disbursements from carbon credit revenue.
