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Citigroup shares climb on report of Venezuelan 'blockade'

People buy food and other staple goods inside a supermarket in Caracas, Venezuela June 30, 2016.
Mariana Bazo | Reuters
People buy food and other staple goods inside a supermarket in Caracas, Venezuela June 30, 2016.

Citigroup shares gained 2.7 percent Tuesday, after the global bank said its unit would cease the servicing of certain accounts in Venezuela.

Venezuela President Nicolas Maduro was quick to react, saying on Monday that Citibank planned to shut his government's foreign currency accounts within a month, and calling the move part of a "blockade."

"With no warning, Citibank says that in 30 days it will close the Central Bank and the Bank of Venezuela's accounts," Maduro said in a speech. "Do you think they're going to stop us with a financial blockade?"

Citibank said the decision was taken after a periodic risk management review, according to Reuters.

—Reuters contributed to this report.