Washington (AFP) – US sanctions against Venezuela have accelerated the already catastrophic decline of the oil-rich nation’s economy, and is pushing it to a debt default that economists say could happen as early as this week.
US sanctions help push Venezuela to default
The aim of the latest US action against Caracas is to choke off funding to Venezuela by blocking access to foreign currency.
The Trump administration announced the sanctions August 24 after labeling Venezuelan President Nicolas Maduro a “dictator.” They follow an earlier set imposed imposed July 31.
Their impact will be in “stopping any new direct investment into the country, and in making any fu…
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