Maduro blasts Citibank and Kimberly-Clark, latest global names ending Venezuela business

The Venezuelan government announces that it is taking over the Kimberly-Clark factory, after the US personal care company announced that it was closing operations there, owing to the economic crisis. President Maduro said the closure was part of an international plot to damage Venezuela’s economy. The Venezuelan labor minister Owaldo Vera said the government would take over the running of the factory, at the request of the 971 workers there. 

Meanwhile, Citibank informed the Venezuelan government that it will stop providing services to “certain accounts in the country” including the central bank and Bank of Venezuela. Due to strict currency controls in place since 2003, the government relies on Citibank for foreign currency transactions. Maduro called the move a “financial blockade.”