Worldwide

European Union slaps sanctions on crisis-hit Venezuela

European Union slaps sanctions on crisis-hit Venezuela”

The move follows Washington slapping punitive sanctions on Caracas after labelling Maduro a "dictator" and as Venezuela scrambles desperately to restructure its debt - estimated at up to US$150 billion (RM628 billion) - to stave off default.

The European Union has banned arms sales to Venezuela and set up a system to slap asset freezes and travel restrictions on Venezuelan officials as it sought to ramp up pressure on President Nicolas Maduro.

"The game was to Venezuela defaulted. (We) will always have a clear strategy and right now that strategy is to renegotiate and refinance the foreign debt". He pointed out that since taking office in 2013, Venezuela has made more than $70 billion in debt payments, including more than $2 billion in the past month. Caracas has struggled to refinance its debt because USA banks can not buy new Venezuelan bonds due to sanctions imposed by U.S.

But many say President Maduro's promise to restructure and refinance debt rings hollow at a time when USA sanctions make both options all but impossible, and that his government may be paving the way for a default despite promises to the contrary. "It will be presided by our companion Tareck El Aissami ... and the presidential commission that I have assigned to this task", he said. That figured seemed to contrast with the overwhelming response of investors contacted by Reuters, who said they were unlikely to attend.

It's almost impossible for Americans to enter Venezuela on short notice, the government has provided them with no blueprint as a starting point and officials heading the talks have been sanctioned by the Trump administration, making it illegal for Americans to negotiate with them.

Worldwide powers accuse Maduro of stifling democracy by marginalising the opposition and gagging independent media.

Investors eager to be paid back, however, worry that confusion clouds the meeting.

Bonds issued by Venezuela and state oil company PDVSA rallied on Friday as efforts to keep current on obligations fueled optimism ahead of the meeting. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Like this

loading...
loading...

Latest


07 August 2019
Is Downsizing to a Smaller Home a Smart Decision?
Game of Thrones Slot Based on the hugely popular Game of Thrones TV series, this slot has gained its popularity due to that show. Those looking to change their lives with a huge win are all now heading over to the Mega Moolah slot game to try their luck.

24 May 2019
Upcoming Online Slot Releases
Look out for Temple of Nugdes! Ancient Fortunes: Zeus Here is one last upcoming game, this time from the prolific Microgaming. This is mixed with a whole bunch of bonus features and extras, making for what will be a very popular game once it goes live.

13 November 2017
Tag: Amazon Nokia Week
It has a Qualcomm Snapdragon 835 chipset with four cores of 2.45GHz and four cores of 1.8GHz Kyro CPU, coupled with 4GB of RAM. The Nokia 6 is an Amazon India exclusive in the country and was launched here in June alongside the Nokia 5 and the Nokia 3.

13 November 2017
New OnePlus 5T Leaked Ahead Of This Weeks Launch
OnePlus 5T also gets a dual 16MP camera set-up on the rear, and a single shooter on the front - like its predecessor. We don't expect these to be included in the retail box but will most probably be available for purchase separately.

13 November 2017
Heher commission report to be released shortly
On registration fees, the commission recommended that application and registration fees be scrapped across the board. This is according to a report by the Sunday Times , which said Zuma meant to announce the plan last week.

13 November 2017
Second apology from Indigo airlines after passenger falls off wheelchair
An inquiry into the incident was ordered by Civil Aviation Minister Ashok Gajapati Raju and the airline was asked to explain. The woman was promptly rushed to the doctor of the Airports Authority of India for first aid, reported DNA.

13 November 2017
Morkel, AB at their destructive best for Titans
Playing for the Titans , De Villiers showed no mercy for the bowlers and whatever came hi way was hit hard. However, De Kock did his part by providing a start for the Titans with the help of his 20-ball 39.

13 November 2017
Venezuela convoca a reunión con tenedores de bonos para el lunes próximo
Criticó que el régimen permanezca "inmóvil" ante el avance de la hiperinflación. Estamos ante el riesgo de una catástrofe social.

13 November 2017
Forecast: This week starts sunny, some rain possible
There will be some rain developing Sunday night but temperatures will be much milder, falling only into the lower 40s. Louis Lambert International Airport at 4:51 a.m at Latitude: 38.75°N, Longitude: 90.37°W - Elevation 604 feet.

23 June 2017
Marvel Looks To Shake Its Poor Gaming Reputation
The games are well designed with attractive graphics and extensive content, but neither is viewed as a flawless experience. These games tend to be actually well done for what they are, and in a way they’ve been the pride of Marvel gaming.