Those denied certification are denied most direct aid from the United States and all U.S. Export-Import Bank financing.

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The sanctions bar PDVSA from access to U.S. government contracts, financing through the U.S. Export-Import Bank and export licenses.

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The authorities have taken a number of steps to restrain the demand for the metal, including the federal government raising the import duty on gold and the RBI forbidding banks and non-bank financial companies from financing the purchase of gold in any form.

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