The U.S. imposed its first economic penalties against Venezuela on Friday, hitting the South American country’s financial sector in an attempt to starve President Nicolás Maduro’s government of cash.
The Trump administration banned trades of Venezuelan debt, prohibiting Maduro’s government and its state-run oil company, Petróleos de Venezuela SA, from selling new bonds to Americans or in U.S. financial institutions. President Donald Trump signed an executive order approving the sanctions Thursday.
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