As US sanctions keep increasing, some other jurisdictions are seeing the the material impacts.
Puerto Rico is suffering a massive crack down on its offshore banking industry as Venezuela targeted sanctions impact the holdings of the financial sector.
The language and other specific factors of the Puerto Rico market were very attractive for Venezuelan officials to offshore their wealth into American soil.
The Fed has reported to limit the opening of Puerto Rican Banks accounts an the deliverance of licences as the situation develops to prevent a further impact in the US economy.
The impact of the sanctions applies to all Americans and includes other territories as the US Virgin Islands, creating a large impact into the offshore system and putting further press ion into Maduro’s Regime.
