Bloomberg: U.S. Weighs New Venezuela Sanctions That May Hit Bonds

Home to the world’s largest crude reserves, Venezuela produces a fifth as much crude as Saudi Arabia or the U.S. as a wave of nationalizations and payment delays have cut investment and maintenance at oil fields. Output had already fallen to a 14-year low in July.

“The whole machine is coming apart,” said Russ Dallen, a managing partner at Caracas Capital Markets. “It creates more uncertainty about their ability to make a heavy debt payment in October and November.”

https://www.bloomberg.com/news/articles/2017-08-23/u-s-is-said-to-weigh-new-venezuela-sanctions-that-may-hit-bonds

https://washpost.bloomberg.com/Story?docId=1376-OV3NDL6TTDS201-2TJDB2VLA6CIQA3FALT3F8HEC5