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U.S. Sanctions Russian Bank for Supporting Venezuela's PDVSA

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  • Putin has helped Maduro endure declines in oil production
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Nicolas Maduro
Nicolas Maduro Photographer: Wil Riera/Bloomberg

The U.S. Treasury Department sanctioned a Moscow-based bank owned jointly by Russian and Venezuelan state companies for evading U.S. restrictions aimed at putting economic pressure on Venezuelan President Nicolas Maduro’s regime.

Evrofinance Mosnarbank was placed on the U.S. sanctions list on Monday, according to a Treasury Department notice, for supporting Venezuela’s state-owned oil company PDVSA. The U.S. in January sanctioned the oil company.