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Citibank announces the closure of accounts belonging to the Venezuelan Central Bank and the Bank of Venezuela. Venezuelan President Nicolas Maduro denounces this as a "financial blockade." Citibank cites a periodic risk management review for the decision. The closure raises concerns about the impact on Venezuela's foreign currency transactions, given the strict currency controls in the country. The Venezuelan government vows to overcome the situation and settle international accounts promptly.
Monday, 11 July, 2016