USA could block Visa and Mastercard operations in Venezuela

The government of Donald Trump in the United States intends to prohibit Visa and MasterCard companies and other financial institutions from processing transactions in Venezuela.

This was stated by a US official who asked to remain anonymous, and who also indicated that the Treasury Department, the White House and other officials of the administration are debating how to proceed.

This measure would greatly affect the oil, electric, aviation and agricultural companies that do business in Venezuela, such as General Electric, Cargill and American Airlines Group, and their local contractors.

Both Visa and MasterCard are the base for a bulk of transactions in Venezuela. Another consequence that this would bring is that other international payment processing companies withdraw from the country.

However, the US government would be giving several safe passage for operations within the region, specifically for companies and institutions linked to the health sector.

K. Tovar

Source: BancayNegocios