Global Markets: Canada mulls Venezuela sanctions

By Commodity News Service Canada

WINNIPEG, Aug. 3 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The Liberal government says it cannot apply punitive sanctions on Venezuela President Nicolas Madura’s administration for human rights abuses because it lacks the legal authority. The United States froze Madura’s U.S. assets and banned some trade with Venezuela earlier this week. The Canadian government says it requires the powers outlined in Bill S-226, which failed to pass this spring.

– American and Russian diplomatic relations continue to deteriorate following U.S. President Donald Trump’s reluctant signing of a new bill pushed through by Congress that increases economic sanctions against Russia and limits the President’s powers on the issue. Russia has condemned the new sanctions.

– U.S. President Donald Trump has thrown his support for a bill initiated by two Republican senators that proposes to cut legal immigration by limiting the types of relatives of immigrants who are allowed to go to the U.S.

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