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Trump slaps sanctions on Venezuela; Maduro sees effort to force default
Summary from United States, from articles in English
Venezuela held nationwide armed forces exercises on Saturday, calling on civilians to join reserve units to defend against a possible attack after U.S. President Donald Trump warned that a "military option" was on the table for the crisis-hit country. (article 1) The U.S. on Friday restricted the ability of Venezuela to tap American debt markets for funding, escalating Washington's economic crackdown against Venezuelan President Nicolas Maduro's cash-strapped government . (article 4) Trump's executive order prohibits institutions in the U.S. from trading new bonds with Maduro's government , including through the state-owned oil company, Petroleos de Venezuela SA. (article 4) The company's aggressive legal gambit shows the risks that Venezuela faces in moving funds through the U.S. financial system, which is crucial for the country to pay its bondholders, amid increased pressure from the United States. (article 5) Venezuela had originally placed funds in the BNYM account in 1992 as part of a $315 million contract with Ingalls Shipbuilding, now part of Ingalls Industries Inc, for maintenance and repair of naval frigates, Crystallex said. (article 5) A dispute about the nature of the work later led Ingalls to sue Venezuela in a court in Mississippi, where the repairs were to have taken place, according to the court documents. (article 5)

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  • Story keywords
    Venezuela, Maduro, Venezuelan, PDVSA, sanctions

    Source articles
    1. Venezuelan army, civil militias hold exercises after Trump threat (Reuters, 08/27/2017, 374 words)
    2. Venezuela's Maduro vows to punish opponents for US sanctions (, 08/25/2017, 1099 words)
    3. Trump slaps sanctions on Venezuela; Maduro sees effort to force default (Reuters, 08/26/2017, 856 words)
    4. Trump administration hits Venezuela with fresh sanctions (, 08/25/2017, 159 words)
    5. Crystallex wins U.S. court order to seize Venezuela funds (Reuters, 08/25/2017, 445 words)

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