(Bloomberg) — Venezuelan bonds extended their worse selloff since the onset of the pandemic after the US warned sanctions will be restored if the government continues to block opposition candidates from running in this year’s elections.
Most Read from Bloomberg
Government notes due in 2027 sliding 2.2 cents on the dollar to 19.2 cents, the biggest drop since March 2020, according to traders and indicative price data compiled by Bloomberg. Bonds of the state oil company Petroleos de Venezuela SA, or PDVSA, due in 2026 also dropped one cent.
US officials said on Monday that the Biden administration would reimpose oil sanctions on Venezuela after a six-month suspension expires in April if the government upholds last week’s ban against opposition front-runner María Corina Machado. The State Department had said over the weekend that President Nicolas Maduro’s backsliding on his promise of open elections would prompt a review.
For…
