Featured Venezuela

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
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
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
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
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
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 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
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
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
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
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