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American Club urges caution over Venezuela sanctions

Chief executive Joseph Hughes says members should ‘proceed with extreme caution’ in any activity that might run afoul of new US sanctions on Venezuela’s state-owned oil company. The club awaits further clarification from the US Treasury’s Office of Foreign Assets Control before it issues a circular to members later this week

The club is still in the midst of looking into all the ramifications, said chief compliance officer Charles Cuccia

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