Citicroup said it will stop correspondent banking and servicing of certain accounts in Venezuela, sparking a furious backlash by Venezuela President Nicolas Madura. Madura said Citigroup planned to shut his government's foreign currency accounts within a month, denouncing the move by one of its main foreign financial intermediaries as part of a "blockade". He said the bank said that in 30 days it will close the Central Bank's and the Bank of Venezuela's accounts, which the government used for transactions in the US and globally.
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