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U.S. Weighs Curbs on Venezuela Transaction Processing

  • Move could impact Visa, Mastercard and other processing firms
  • Step could also hit oil, power, aviation, agriculture firms
Nicolas Maduro
Nicolas MaduroPhotographer: Wil Riera/Bloomberg
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The U.S. is considering sanctions that would effectively prohibit Visa Inc., Mastercard Inc. and other financial institutions from processing transactions in Venezuela, an administration official said, a step aimed at cutting off funds to Nicolas Maduro’s regime.

If the Trump administration decides to move forward, such sanctions could prohibit U.S. companies from engaging with entities that recognize Maduro as the president of Venezuela. U.S. and other international firms use local institutions to process transactions, and the majority of the local financial institutions are state-owned enterprises.