Increase Pressure: Bonds Government

increase pressure: These measures will undermine Maduro's ability to pay off political cronies and regime supporters, and increase pressure on the regime to abandon its disastrous path, according to The Japan Times. The financial sanctions drew quick rebuke from Venezuela's government, with Foreign Minister Jorge Arreaza calling them the worst aggression against the country in two centuries. The sanctions, which President Donald Trump signed by executive order, prohibit American financial institutions from providing new money to the government or the state oil company, PDVSA. They also restrict the Venezuelan oil giant's U.S. 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. ; Maduro may no longer take advantage of the American financial system to facilitate the wholesale looting of the Venezuelan economy at the expense of the Venezuelan people, Treasury Secretary Steven Mnuchin said at the White House. What do they want they want to starve the Venezuelan people Arreaza told reporters at the United Nations after meeting with Secretary General Antonio Guterres. We are also victims, as he is, of fake news, Arreaza said in a rare show of solidarity with Trump. He said his government would fight the measures with all of its diplomatic and economic strength, but also blamed members of the opposition some of whom expressed satisfaction with the U.S. action for conspiring to bring further hardships on the Venezuelan economy. (news.financializer.com). As reported in the news.