US imposes sweeping financial sanctions on Venezuela

The US imposed sweeping financial sanctions on Venezuela on Friday, which were angrily denounced by Caracas and dramatically ratcheted up tensions between the two countries.


The sanctions, which US President Donald Trump signed by executive order, prohibit American financial institutions from providing new money to the government or the state oil company, PDVSA, and could make it harder for embattled Venezuelan President Nicolas Maduro to raise badly needed cash to prevent a debt default.

They also restrict the Venezuelan oil giant's US subsidiary, Citgo, from sending dividends back to Venezuela and ban trading in two bonds the government recently issued to circumvent its increasing isolation from Western financial markets.
  [aljazeera.com]
26/8/17