Venezuela seeks banking services in Asia, Europe: official

Venezuela is seeking to open bank accounts in Asia and Europe to carry out hard currency transactions, Economy Vice President Tareck El Aissami said on Tuesday, as the OPEC nation seeks to overcome U.S. sanctions that have hurt its foreign commerce. Hyperinflation-stricken Venezuela is in its fifth year of recession, prompting a surge in emigration that has overwhelmed its South American neighbors. President Nicolas Maduro frequently blames a U.S. “economic war” for Venezuela’s chronic shortages of food, medicine and other basic goods. Critics attribute the crisis to Maduro’s policies, including a complex web of currency controls and heavy state intervention in the economy. More…