U.S. Toughens Penalties on Venezuela by Curbing Its Access to Funds

26 Aug 2017   Venezuela

The U.S. on Friday restricted the ability of Venezuela to tap American debt markets for funding, marking a significant escalation in Washington’s economic crackdown against Venezuelan President Nicolás Maduro’s cash-strapped government. President Donald Trump’s executive order prohibits institutions in the U.S. from trading new bonds with Mr. Maduro’s government, including through the state-owned oil company, Petróleos de Venezuela SA. It doesn’t curb trading of existing Venezuelan bonds in secondary markets and allows short-term trade finance to facilitate oil transactions between Venezuela and the U.S. The actions are aimed at limiting the government’s ability to finance itself, […]

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