Venezuela halts commercial ties with Panama in laundering spat

Venezuela said it was halting commercial relations with Panamanian officials and companies, including regional airline Copa, for alleged involvement in money laundering, prompting both countries to recall their ambassadors.

The resolution names Panamanian President Juan Carlos Varela and nearly two dozen Cabinet ministers and top-ranking officials, and says that Panama’s financial system had been used by Venezuelan nationals involved in acts of corruption.

Source: Reuters