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Global Markets: U.S. takes action against Venezuela, China

By Commodity News Services Canada

WINNIPEG, Jan. 29 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The United States imposed sanctions on Venezuelan oil company PDVSA and froze US$7 billion in Venezuelan assets on Monday afternoon. This is the latest move the U.S. has taken against the regime of Nicolas Maduro after he was sworn-in as the South American country’s leader. The U.S. and numerous other countries recognize Juan Guaido, the leader of Venezuela’s National Assembly, as the country’s interim president.

– Also on Monday afternoon, the U.S. Department of Justice unveiled its indictment against technology giant Huawei and Meng Wanzhou, its chief financial officer. The charges include bank fraud, conspiracy to commit fraud, violating the International Emergency Economic Powers Act and in a separate case, stealing robot technology from T-Mobile. Meng, who was arrested in Vancouver on Dec. 1, is out on bail pending her extradition hearing.

– As the investigation into a dam burst in Brazil continues, three employees of mining company Vale SA and two contractors were arrested on Monday. The 28-story dam holding tailings at an iron ore mine burst on Jan. 25. The death toll currently stands at 65 people, but up to 300 more are missing.

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