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New York Fed cracks down on Puerto Rico banks following Venezuela sanctions

U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters. The development will prevent the island’s offshore banks, several of which are owned by citizens of crisis-stricken Venezuela,… Read More

US Blacklists Venezuela’s Central Bank, Targets Cuba and Nicaragua

The Trump administration on Wednesday announced sanctions restrictions targeting Venezuela, Cuba and Nicaragua, including a designation of Venezuela’s central bank and pending limits on Cuban remittances. The administration added Banco Central de Venezuela to its Specially Designated Nationals (SDN) List to “prevent it from being used as a tool of… Read More

In major shift, Trump to allow lawsuits against foreign firms in Cuba

The Trump administration will allow lawsuits in U.S. courts for the first time against foreign companies that use properties confiscated by Communist-ruled Cuba since Fidel Castro’s revolution six decades ago, a senior U.S. official said on Tuesday. The major policy shift, which will be announced on Wednesday, could expose U.S.,… Read More

15th April 2019

Former Venezuelan general with ‘treasure trove’ of intelligence arrested for drug trafficking

Spanish police on Friday arrested Hugo Carvajal, a former head of Venezuelan military intelligence, who Washington believes has a “treasure trove” of details he is willing to share about Venezuelan President Nicolas Maduro. Carvajal, a former general and close ally of the late Venezuelan leader Hugo Chavez, was arrested on… Read More

14th April 2019

U.S. slaps sanctions on four shipping firms, nine ships, carrying oil from Venezuela

The United States on Friday announced more sanctions on shipping companies transporting oil from Venezuela, blacklisting four shipping companies and nine vessels, some of which the U.S. Treasury Department said carried oil to Cuba. The U.S. Treasury identified the firms as Liberia-based Jennifer Navigation Ltd, Lima Shipping Corp and Large… Read More

12th April 2019

Oil tankers leave Venezuela for Cuba despite sanctions: document, data

Venezuela’s state-run PDVSA has shipped 1 million barrels of oil to Cuba days after the United States imposed fresh sanctions on vessels and firms involved in exports to the island in an effort to halt oil trade between the political allies, according to a PDVSA document and tanker tracking data. Read More

29th March 2019

U.S. orders foreign firms to further cut down on oil trades with Venezuela

The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. The move comes as Washington’s efforts to oust President… Read More

27th March 2019

Uganda holds 3.6 tons of gold possibly from Venezuela

AP — A gold refinery established by a Belgian is facing Ugandan sanctions over the questionable importation of 7.4 tons of gold earlier in March, adding to growing allegations that minerals from conflict-plagued countries pass through the Uganda-based company. The company, African Gold Refinery, had already exported 3.8 tons… Read More

22nd March 2019

Citigroup to sell Venezuelan gold in setback to President Maduro: sources

Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a $1.6 billion loan after the deadline for repurchasing them expired this month, sources said, a setback for President Nicolas Maduro’s efforts to hold onto the country’s fast-shrinking reserves. Maduro’s government has since… Read More

21st March 2019

U.N. rights boss decries Venezuela crackdown; says sanctions may worsen crisis

Venezuelan security forces, backed by pro-government militias, have quashed peaceful protests with excessive use of force, killings and torture, U.N. human rights chief Michelle Bachelet said on Wednesday. The country was plunged into a political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to… Read More

20th March 2019

US Blacklists Gold Mining Company for Giving ‘Lifeline’ to Maduro

The United States on Tuesday blacklisted a Venezuelan mining company and its president for their purported roles in financing the government of Nicolas Maduro and contributing to environmental degradation and harsh working environments for miners. Under US sanctions law, financial institutions must now block assets linked to CVG Compania General… Read More

14th March 2019

Citgo, Valero try to return Venezuelan oil following sanctions: document

The top U.S. buyers of Venezuelan oil are in the unusual position of trying to return millions of barrels of crude they need but cannot accept because of U.S. sanctions on the South American nation and its state-run energy firm PDVSA. PDVSA’s U.S. refining subsidiary Citgo Petroleum Corp and Valero… Read More

12th March 2019

Doctors pray for sick as blackout batters Venezuelan hospitals

Maria Rodriguez’s daughter has spent a month in Caracas’s J.M. de los Rios children’s hospital with hydrocephalus, a buildup of spinal fluid in the brain, but staff there have faced an uphill battle treating the girl because of a nationwide power outage. “It has been horrible since the blackout. My… Read More

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