Picasso Trigger (1988)

"They take their art seriously. They kill."

Double agent Picasso Trigger is assassinated in Paris by double-crossing bad guy Miguel Ortiz. Then Ortiz begins eliminating agents of The Agency who were involved in his brother's death. The Agency (belatedly) springs into action to stop Ortiz' heinous activities. The usual gunplay, romance, and nifty toys with bombs ensue.