VENEZUELA: US gives opposition leader control over some Venezuelan assets

The United States said it has handed control of Venezuela’s bank accounts in the United States to Juan Guaido, the opposition leader whom Washington has recognised as interim president. Secretary of State Mike Pompeo signed off on the order last week for Guaido to control holdings in the Federal Reserve Bank of New York and […]

The United States said it has handed control of Venezuela’s bank accounts in the United States to Juan Guaido, the opposition leader whom Washington has recognised as interim president.

Secretary of State Mike Pompeo signed off on the order last week for Guaido to control holdings in the Federal Reserve Bank of New York and federally insured banks, the State Department said. “This certification will help Venezuela’s legitimate government safeguard those assets for the benefit of the Venezuelan people,” State Department spokesman Robert Palladino said in a statement.

The US has been pressing other countries to part ways with President Nicolas Maduro and recognise Guaido as Venezuela’s interim president.

On Monday, administration of US President Donald Trump also announced sanctions against Venezuela’s state oil company PDVSA. The move is expected to block $7bn in assets and result in $11bn of lost export revenue over the next year.