Trump Slaps New Sanctions on Venezuela

President Trump levied a new set of economic sanctions on Venezuela Friday in an attempt to exclude the country’s government from U.S. financial markets

The new sanctions ban Americans from “participating in [President Nicolás] Maduro’s liquidation of the Venezuelan economy,” said a senior administration official.

The sanctions cover an array of financial activities, banning Americans from acquiring new Venezuelan debt and Maduro’s government from receiving profits from U.S.-based companies.

The new sanctions will block CITGO, an American oil company with more than $32 billion in yearly revenue, from sending profits to its corporate owner, state-owned Venezuelan oil company Petróleos de Venezuela.

But the sanctions avoided blocking secondary markets from trading Venezuelan securities and carved out licenses for U.S.-owned Venezuelan debt. (Read more from “Trump Slaps New Sanctions on Venezuela” HERE)

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