Two global trading houses that brokered an opaque deal with the Trump administration this month to sell Venezuelan oil were previously prosecuted for bribery schemes involving oil sales elsewhere, court records show, underscoring concerns by anti-corruption experts and lawmakers that the arrangement is vulnerable to abuse, the Washington Post reported. The administration granted confidential licenses to Vitol and Trafigura in early January to sell Venezuelan oil with little independent oversight.

Colombia's central bank raised its benchmark interest rate by 100 basis points to 10.25% on Friday, its ​first hike in nearly three years and a larger move than most ‌analysts had expected, as policymakers pointed to rising inflation pressures, a sharp jump in inflation expectations and mounting fiscal and external risks, Reuters reported. The increase was approved by a divided seven-member board: four directors voted for the 100-basis-point hike, two voted for a 50-basis-point cut and one backed holding the ‌rate unchanged, according to the central bank's statement.

A proposed reform of Venezuela's oil law is enough to encourage companies working in the country to expand and for some new entrants to begin investing, but deeper reforms would be necessary to attract the $100 billion the U.S. says is required to revamp the nation's energy sector, foreign and local executives and lawyers said, Reuters reported. The U.S. has taken control of Venezuela's oil exports and revenue following a military incursion to capture President Nicolas Maduro earlier this month, and a naval blockade to stop oil shipments on sanctioned vessels since December.

U.S. control of Venezuela's oil exports has ensnared barrels that had been servicing debt to China, lining up another potential showdown between the two superpowers that could further complicate the South American country's path out of default, Reuters reported. Around a tenth ​of Venezuela's $150 billion foreign debt pile is estimated to be loans from China that the OPEC member was paying in oil cargoes — until the U.S. seized Venezuelan President Nicolas Maduro earlier this ‌month. Debt experts said the ramifications of China's claim on the cargoes and any clash with the U.S.

The U.S. is in talks with Chevron Corp., other crude producers and the world’s biggest oilfield service providers about a plan to quickly revive output in Venezuela at a fraction of the estimated $100 billion cost for a complete rebuilding, Bloomberg News reported. Oilfield contractors such as SLB Ltd., Baker Hughes Co. and Halliburton Co. would focus their initial efforts on repairing or replacing damaged or outdated equipment and refreshing older drilling sites, according to senior administration officials who asked not to be identified discussing internal plans.

Brazil's central bank ordered on Wednesday the liquidation of Will Financeira SA, a unit of ​troubled lender Banco Master, in the latest drastic step involving ‌illiquid institutions tied to the conglomerate, Reuters reported. The move comes a day after Mastercard said that it ‌had suspended Will Bank cards from its network due to non-compliance with settlement schedules under its payments arrangement.

Brazil's Supreme Court Justice Dias Toffoli has allowed a prosecutor's request for banks to freeze assets belonging to Brazilian entrepreneur Nelson Tanure due to an investigation into lender Banco Master, according to a document made public last Friday, Reuters reported. The request was made by the country's Prosecutor General's Office. The mid-sized bank was liquidated by the central bank last November.

Four Venezuelan banks were notified this week by the ​country's government that they will split $300 million of oil revenues deposited in an account in ‌Qatar, enabling them to sell dollars to Venezuelan companies that need foreign exchange to pay for materials, two financial sources and an analyst said, Reuters reported. The injection of foreign capital comes after weeks of tightening supplies of dollars, as the U.S. seized Venezuelan oil tankers and hit the country's top revenue flow.

Brazil's central bank ordered on Thursday the liquidation of brokerage REAG, currently known as CBSF, according to a document signed by Governor Gabriel Galipolo, in the latest fallout from the collapse of mid-sized lender Banco Master, Reuters reported. The move "was prompted by serious violations of the rules governing the activities of institutions that are part of the national financial system", the central bank said in a statement.

Brazilian steel-to-energy conglomerate CSN plans to divest key assets to reduce its heavy debt burden as high interest rates squeeze financing and weigh on investment, Bloomberg News reported. The group, controlled by the billionaire Steinbruch family, has hired advisers to sell a significant stake in CSN Infraestrutura — which owns ports, railways and a logistics company — as well as control of its cement unit. The company aims to sign deals in the second half of the year.