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Trump executive order prohibits dealings in new Venezuelan and PDVSA debt, aim to restrict access to U.S. debt market


By Reuters Staff

Petroleumworld 08 28 2017

U.S. President Donald Trump signed an executive order prohibiting dealings in certain Venezuelan public sector debt on to pressure the government of President Nicolas Maduro to halt its “tyranny,” the White House the White house said on Friday.

The order prohibits dealings in new debt and equity issued by the Venezuelan government and by its state oil company, PDVSA. But the White House said the order allows Treasury to provide licenses for other commercial and humanitarian transaction, including financing for commercial trade, petroleum exports and imports and transactions that only involve PDVSA's U.S. unit, Citgo. (Reporting by David Lawder and Tim Ahmann)

New sanctions aim to restrict Venezuela access to U.S. debt market

U.S. Treasury Secretary Steven Mnuchin said on Friday that new sanctions imposed against Venezuela were aimed at hobbling the regime of President Nicolas Maduro by restricting the country's access to U.S. debt and equity markets.

“We urge those within the regime, including those who have been sanctioned, to distance themselves from the violence and the dictatorship,” Mnuchin told reporters at the White House. He said the sanctions were not aimed at “changing leadership” in Venezuela.

White House national security adviser H.R. McMaster said at the same news conference that United States had no plans to take military action in Venezuela, but that President Donald Trump intended to take advantage of “a broad range of ... integrated options” in the future. (Reporting by Timothy Ahmann and Julia Harte; Editing by Leslie Adler)

Reporting by Reuters Staff.

08 26 2017

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