LOC20:16
17:16 GMT
WASHINGTON, Aug 25 (KUNA) -- President Donald Trump has signed an executive order "imposing strong, new financial sanctions on the dictatorship in Venezuela," the White House announced Friday.
The action prohibits dealings in new debt and equity issued by the government of Venezuela and its state oil company, the announcement said.
It also prohibits dealings in certain existing bonds owned by the Venezuelan public sector, as well as dividend payments to the government of Venezuela, it said.
To mitigate harm to the American and Venezuelan people, the Treasury Department is issuing general licenses that allow for transactions that would otherwise be prohibited by the order, the statement said.
These include provisions allowing for a 30-day wind-down period; financing for most commercial trade, including the export and import of petroleum; transactions only involving Citgo; dealings in select existing Venezuelan debts; and the financing for humanitarian goods to Venezuela, it said.
"These measures are carefully calibrated to deny the Maduro dictatorship a critical source of financing to maintain its illegitimate rule, protect the United States financial system from complicity in Venezuela's corruption and in the impoverishment of the Venezuelan people, and allow for humanitarian assistance," the statement said. (end)
rm.sd