Maduro calls for bondholders meet after US sanctions

Bloomberg

President Nicolas Maduro summoned holders of Venezuelan bonds to a meeting with Economy Minister Ramon Lobo next week to discuss
the effects of US sanctions aimed at sovereign and state oil company debt. US-based holders of Venezuela bonds will be hurt the most by the sanctions, Maduro said. President Donald Trump “burned the bonds in their hands” by trying to harm Venezuela, he said, without providing more details on the meeting.
“Attention, holders of Venezuela bonds,” Maduro said on state television. “I summon you through finance vice president Ramon Lobo to a meeting next week to find solutions to the damage inflicted by Trump on the holders of Venezuela bonds with this infamous and illegal order.”
The US imposed sanctions barring trade of new debt issued by the Venezuelan government and state oil company Petroleos de Venezuela SA in US markets and blocked dealing in some existing bonds owned by the country’s public sector to choke off funding to Maduro’s government, which is running out of money.
Venezuela and PDVSA are under intense scrutiny from investors as US sanctions against key government officials and a power grab by Maduro threaten to disrupt financial flows in a country hit by a crippling recession and months of violent protests. The Treasury Department will issue licenses for some transactions “to mitigate harm to the American and Venezuelan people,” the White House said in a statement.