Trump Admin Closes Venezuela Sanctions Loophole in Favour of US Bondholders
NOVANEWS
The measure opens the way for seizures of Venezuela’s US-based oil assets should the Maduro government default on PDVSA bond payments.
By Paul Dobson
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The US Treasury Department’s Office of Foreign Assets Control (OFAC) has modified the wording of US sanctions legislation against Venezuela. (Granma)
Merida, July 20, 2018 (venezuelanalysis.com) – The United States Treasury Department has modified the wording of its latest round of sanctions against Venezuela. The changes allow US bondholders to seize the South American country’s assets should the Caracas government default in the repayment of its state oil company bonds, which are due to expire in 2020.
Under the May 21 US executive order the seizure of government-owned c...