En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Reuters Staff - Venezuela's dollar bonds at 13-month lows after US sanctions

Petroleumworld 08 02 2017

Venezuelan dollar bonds fell further on Tuesday after the United States slapped sanctions on President Nicolas Maduro following the controversial creation of an all-powerful legislative body.

Under the sanctions all of Maduro's assets subject to U.S. jurisdiction are frozen, and Americans are barred from doing business with him. The White House branded Maduro a dictator for "seizing absolute power".

"We expect further measures over time, as the U.S. ratchets up the pressure, but we think a trade embargo is still some way off," said Stuart Culverhouse, Global Head of Macro & Fixed Income Research at Exotix Capital in London.

Nevertheless, he added markets would fear that trade sanctions, cutting off Venezuela's only source of foreign exchange, would precipitate default, and perhaps bring about the collapse of the government.

Venezuela's benchmark sovereign bond maturing 2038 fell almost 1 cent to 37.6 cents in the dollar, trading just above the 13-month lows hit on Friday, according to Reuters data.

State oil firm PDVSA's benchmark 2037 bond was down 0.7 cents to 32.05 cents in the dollar, hitting its lowest level since June 2016.

Both the sovereign and PDVSA bonds were down across the curve, with PDVSA's 2021 issue falling 1.5 cents and the sovereign 2022 issue dropping 1.3 cents.

The moves also came as further domestic developments unfolded.

Venezuelan opposition leaders Leopoldo Lopez and Antonio Ledezma were taken from homes, where they were serving house arrest, the two leaders' family members said on social media, adding President Maduro was responsible for their fates.

Reporting by Claire Milhench; editing by Marc Jones from Thomson Reuters.

reuters.com 08 01 2017

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Round 2.2 & 2.3






Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.