Citibank has planned to shut Venezuelan government’s foreign currency accounts within a month, according to Venezuelan president Nicolas Maduro. With no warning, Citibank says that in 30 days it will close the Central Bank and the Bank of Venezuela’s accounts, he said. Due to strict currency controls in place since 2003, the government relies on Citibank for foreign currency transactions. Maduro alleged the move by Citibank, one of Venezuela’s main foreign financial intermediaries, is part of a ‘blockade.’
