USA imposes new sanctions on the Venezuelan financial system

The US Treasury Department issued Friday new sanctions to Venezuela’s financial system. The measures affect the properties and interests of the Venezuelan Bank of Economic and Social Development (Bandes).

According to the secretary of the U.S. Treasury Steven T. Mnuchin, indicated that the measure was issued because the Venezuelan government has distorted the original purpose of Bandes, which «was founded to help the economic and social welfare of the Venezuelan people.»

The official maintains that Nicolás Maduro and his collaborators have transformed Bandes and its subsidiaries «into vehicles to transfer funds abroad» to sustain the current government system.

The measure applies to all the bank’s subsidiaries in Bolivia and Uruguay and establishes the activities and assets must be reported to the OFAC, Office for the Control of Foreign Assets of the Treasury Department.

The sanctions of the Donald Trump administration, considered a response to the recent allegedly illegal detention of Roberto Marrero, extend to Banco de Venezuela SA, Banco Bicentenario del Pueblo, Banco de la Obrera, Mujer y Comunas (Venezuela).

M.Pino

Source: BBC.com