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US targets Russian bank behind Venezuela's 'petro' currency for violating PDVSA sanctions

From spglobal.com

The US Treasury Department on Monday accused a Moscow-based bank of violating US sanctions on Venezuela's state-owned oil company PDVSA, signaling the Trump administration plans to go after foreign companies that have not cut ties to the Maduro government. The targeted bank, Evrofinance Mosnarbank, is owned jointly by Russian and Venezuelan state-owned companies. Treasury said Evrofinance's net assets grew more than 50% last year as it continued to "maintain its significant relationship with the illegitimate" Maduro regime. Evrofinance was the primary international financial institution in 2018 willing to finance ... (full story)

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  • Category: Fundamental Analysis