At the moment the USA government discusses the possibility of introducing a new package of sanctions, which in fact will prohibit the operation of such systems like Visa and Mastercard in Venezuela.
According to the administration of Donald Trump, such a step would cause irreparable damage to the Maduro government regime, which the United States recognized as illegitimate. These sanctions will mean a total ban for any American company to cooperate with any Venezuelan company that has at least some relation to the current Maduro regime.
The main purpose of these sanctions is to put pressure on the current leadership of Venezuela. However, such actions may affect the lives of ordinary citizens of the country. How to avoid this, officials do not know yet, although they claim that there are some tricks which allow making a number of exceptions.
On Saturday, March 16, Juan Guaido (head of the Venezuelan opposition) said that they managed to take under control the Citgo – a subsidiary of the state-owned oil giant PDVSA.
Querían robárselo todo, pero ya tenemos control de @CITGO y la licencia para seguir operando la empresa, rescatando un importante activo de la Nación.
Quieren que abandonemos las calles, pero mañana todos saldremos a organizarnos para cesar al usurpador. https://t.co/0h2ZovJphq
— Juan Guaidó (@jguaido) March 15, 2019
Recall, recently we wrote that the Russian bank “Eurofinance Mosnarbank”, which cooperated with the already mentioned company PDVSA, came under sanctions.
If the VISA and Mastercard systems stop working in the country, then people will have no other choice but to switch completely to using Bitcoin or their own cryptocurrency El Petro. Given that Venezuelans are used to living in hyperinflationary conditions, cryptocurrency will seem like a fairly stable asset for them.
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