Economics
Potential U.S. Oil Sanctions Boost Risk of Venezuela Default
- U.S. leaves open possibility if more sanctions after vote
- Implied probability of missing a debt payment climbs to 62%
U.S. Weighs Oil Action on Venezuela Vote Fallout
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The specter of tighter U.S. sanctions is pushing up the perception that Venezuela is getting closer to defaulting on its bonds.
Venezuela is awaiting possible further restrictions after the U.S., its largest trading partner, sanctioned President Nicolas Maduro after he held elections Sunday for a new assembly that will rewrite the constitution. U.S. Treasury Secretary Steven Mnuchin said in announcing the measures, including freezing Maduro’s assets in the U.S., that additional sanctions were “on the table.”