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White House Moves Against Venezuelan Oil and Sovereign Debt

By Valentina Pasquali

The U.S. Treasury Department imposed new sanctions on Venezuela's sovereign debt and state-owned oil firm in response to the government of President Nicolas Maduro's allegedly anti-democratic posture and crackdown on political opponents. President Donald Trump signed an executive order Friday forbidding U.S. individuals and entities from buying or selling long-term bonds and stock freshly issued by the government in Caracas or by Petroleos de Venezuela, or PdVSA, as well as certain categories of pre-existing public debt. The restrictions also bar Venezuelan state-owned U.S. entities, like American oil refiner Citgo, from paying dividends or remitting profits to Venezuela. American financial institutions...

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