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US may ban Visa, Mastercard from processing Venezuela payments

Bnamericas Published: Friday, March 15, 2019
US may ban Visa, Mastercard from processing Venezuela payments

The Donald Trump administration is considering banning US financial institutions such as Visa and Mastercard from processing transactions in Venezuela in order to increase pressure on the Nicolás Maduro government and his allies in the armed forces.

According to reports from Bloomberg and Reuters citing senior sources within the US administration, no decision has been made yet on the move, which would mirror similar limits imposed on Syria, North Korea and Iran.

The Trump administration has already imposed a series of sanctions on Maduro's government and national oil company PDVSA, and has recognized Juan Guaidó as caretaker president since late January. US companies buying oil from PDVSA have been ordered to divert payments to accounts to be controlled by Guaidó.

The US government has also warned international institutions against helping Maduro and his allies hide assets belonging to the Venezuelan state.

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