May 21, 2018 / 6:35 PM / in a month

In new sanctions, Trump bans buying Venezuelan debt for cash

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday put in place new economic sanctions aimed at Venezuela in an executive order banning U.S. citizens from being involved in sales of that country’s accounts receivables related to oil and other assets.

A clerk grabs a stack of Venezuelan 10 bolivars banknotes at a fruit and vegetable store in Caracas July 10, 2015. REUTERS/Marco Bello

“Today’s executive order closes another avenue for corruption that we have observed being used: it denies corrupt Venezuelan officials the ability to improperly value and sell off public assets in return for kickbacks,” a senior administration official told reporters.

Reporting by Roberta Rampton, Makini Brice and James Oliphant; Editing by Richard Chang

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