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Φανή Πεταλίδου
Ιδρύτρια της Πρωινής
΄Έτος Ίδρυσης 1977
ΑρχικήEnglishTrump on Venezuela: the U.S. won’t help underwrite “tyranny”

Trump on Venezuela: the U.S. won’t help underwrite “tyranny”

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First US economic penalties against Venezuela

U.S. imposes first economic sanctions against Venezuela

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Saying the U.S. won’t help underwrite “tyranny,” the Trump administration on Friday restricted Venezuela’s ability to borrow money from American creditors, a prohibition intended to starve President Nicolás Maduro’s troubled government of much-needed cash.

The Treasury Department, following through on President Donald Trump’s threat of economic sanctions, banned debt trades for bonds issued by the Venezuelan government and its state-owned oil company, Petróleos de Venezuela SA, the economy’s financial driver. But it continued to avoid the penalty that would inflict the most damage on the South American country: an oil embargo.

“Maduro may no longer take advantage of the American financial system to facilitate the wholesale looting of the Venezuelan economy at the expense of the Venezuelan people,” Treasury Secretary Steven Mnuchin said, warning of future escalating sanctions.

Banning purchases and trades of new Venezuelan debt could further cripple Caracas’ ability to pay off interest on its growing national debt. The oil-producing country is in the middle of an unprecedented economic collapse caused by plunging oil prices and rampant mismanagement that has led to hyperinflation, violent crime and widespread food and medicine shortages.

The U.S. debt ban could push Venezuela closer to financial default. Maduro’s government, denounced by the U.S. and its regional allies as a dictatorship, will have to turn to its other major financiers, China and Russia, who already hold significant stakes in the country’s all-important oil industry.

Maduro insists that his government is a democracy under siege by interventionist foreign powers.

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“The illegal measures President Donald Trump took today against the Venezuelan people simply violate international law,” Maduro said Friday. “They ratify an imperial path of aggression against Venezuela.”

Lending to Venezuela, an expensive risk given the country’s negative credit rating, had already dried up, with major banks wary of hurting their reputations by financing an increasingly isolated regime.

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