US Sanctions Venezuelan State-Owned 'BANDES' National Development Bank - Treasury

The United States has imposed sanctions against Venezuela's state-owned national development bank known as BANDES and its subsidiaries, the US Department of the Treasury said in a press release on Friday

WASHINGTON (UrduPoint News / Sputnik - 22nd March, 2019) The United States has imposed sanctions against Venezuela's state-owned national development bank known as BANDES and its subsidiaries, the US Department of the Treasury said in a press release on Friday.

"Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Banco de Desarrollo Economico y Social de Venezuela, or BANDES, pursuant to E.O.[executive order] 13850, as amended, for operating in the financial sector of the Venezuelan economy, as well as four additional financial institutions that BANDES owns or controls," the release said.

The release explained that the sanctions are being imposed in response to the arrest of Roberto Marrero - aide to Venezuela's self-proclaimed interim president Juan Guaido - by the government of President Nicolas Maduro.