Looks like Trump has seen the fraud that was the election in Venezuela and said “Nope.” to doing business there.
Breaking News: Donald Trump Signs New Executive Order That Prohibits Further Transactions with Venezuela
The Caracas Chronicles Team –
May 21, 2018
Donald Trump just signed an Executive Order —effective at 12:30 p.m. EDT on May 21, 2018— that prohibits all transactions by a United States person or within the US, related to, provision of financing for, and other dealings in:
The purchase of any debt owed to the Government of Venezuela, including accounts receivable;
Any debt owed to the Government of Venezuela that is pledged as collateral after the effective date of this order, including accounts receivable; and
The sale, transfer, assignment, or pledging as collateral by the Government of Venezuela of any equity interest in any entity in which the Government of Venezuela has a 50 percent or greater ownership interest.
The order also prohibits any transaction or conspiracy formed for the purpose of evading or avoiding, or attempts to violate any of the prohibitions set forth in this order.
Includes a link to the actual order:
Sec. 6. This order is effective at 12:30 p.m. eastern daylight time on May 21, 2018.
DONALD J. TRUMP
THE WHITE HOUSE,
May 21, 2018.
This is going to put a crimp in Citgo (that gets most of their oil from Venezuela) and a lot of 7/11 stores (that often have Citgo gas).
Venezuela will need to hustle to find someone else to buy / refine their oil. US oil prices will likely rise as we buy a lot of their oil and we’ll need to hustle up replacement suppliers.
One must wonder just how long Venezuela can continue down this road to Socialist Workers Paradise before it collapses. Who’s going to support it? How will it end?