Credit Suisse (CS) Severs Ties With Some Clients in Venezuela Zacks.com 1/7/2021 Per a Bloomberg article, Credit Suisse CS has ended relationship with some of the rich Venezuelan clients as it considers the region to be risky for business on account of “politically-exposed clients in the sanctions-hit country”. Popular Searches Banks on a global level are under strict supervision regarding their practices, and Venezuela is no different in this regard. Last year the United States upped sanctions owing to Venezuela’s oil industry. Also, Switzerland and other European countries are said to have imposed sanctions on Venezuelan officials. Per the article, Credit Suisse has cut down assets managed for Venezuela’s wealthy clients to $2 billion, which is less than half of what it managed few years back.