New executive order targets Venezuela’s access to U.S. financial markets

Effective August 25, 2017, President Trump issued a new Executive Order, (the Order), which targets the Government of Venezuela’s (GOV) and Petroleos de Venezuela, S.A.’s (PdVSA) ability to access capital from the United States including profits and dividends from its US assets, such as CITGO Holdings, Inc. (CITGO), the PdVSA-owned American subsidiary.

In a number of respects these new financial restrictions resemble Russia-related “sectoral” sanctions imposed by various directives but there are certain important differences, as these new sanctions only target the GOV.

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