The United States imposed sanctions on a Russian Bank that helped finance the Venezuelan state cryptocurrency Petro, which was part of the Nicolas Maduro government's attempt to circumvent Washington's economic pressure on the country.
The U.S. Department of the Treasury designated Evrofinance Mosnarbank, a Moscow-based bank that is jointly owned by Russian and Venezuelan state-owned companies, for supporting Venezuelan state-owned oil company Petroleos de Venezuela S.A. (PdVSA), which has already been targeted by Washington for corruption, embezzlement, and money laundering by the Maduro regime.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.