(Recasts with Maduro comments on debt restructure plan)
CARACAS, Nov 2 (Reuters) - Venezuela President Nicolas Maduro said he wanted to restructure all future foreign debt, given U.S. sanctions, after ordering payment of state oil company PDVSA's $1.2 billion 2017N bond maturing on Thursday.
"I decree a refinancing and restructuring of all foreign payments," Maduro said on state TV, after confirming funds would be available to pay the PDVSA bond from Friday.
Bondholders had been nervously awaiting confirmation of PDVSA's latest major commitment, but will likely be spooked by Maduro's announcement that all future debt payments were dependent on renegotiation.
Maduro said Vice President Tareck El Aissami, on a U.S. sanction list for alleged corruption, would head a commission to handle restructuring.
Throwing doubt on the latest payment, El Aissami said financial firm Euroclear had "blocked" a $1.2 billion payment due to complications caused by the U.S. financial sanctions.
Accusing Maduro of presiding over a corrupt and repressive "dictatorship", President Donald Trump's administration has imposed financial restrictions aimed at preventing Venezuela's government from contracting new debt.
"We have had to face a real global financial persecution," Maduro said, adding that OPEC member Venezuela had paid $71.7 billion in debt since he came to power in 2013, despite losing $100 billion in revenues to falling oil income.
Maduro said the Trump measures had stopped him from issuing a new bond in international markets, of between $3.5 billion and $5 billion. And he lashed opposition leaders for encouraging financial sanctions, saying congress head Julio Borges should be tried for treason.
"GLOBAL FINANCIAL DICTATORSHIP"
"If Venezuela wants to refinance one of its bonds, it is prohibited by the global financial dictatorship," Maduro said.
"But they will never suffocate us. We will never surrender to the U.S. empire," he added, also criticizing Colombia for allegedly blocking a shipment of medicines under U.S. pressure.
During 18 years of socialist rule, Venezuela has always paid its foreign debt on time, including during the recent crippling economic crisis that has spurred widespread food shortages.
PDVSA last week struggled for days to deliver funds for a previous bond payment amid confusion over which banks were charged with transferring the money.
After this week's payment, Venezuela in fact has no foreign bond maturities until the second half of 2018.
But in a possible sign of financial desperation, Venezuela and PDVSA have been skipping interest payments since the start of October, racking up close to $750 million in pending coupons by repeatedly invoking 30-day grace periods.
The country is struggling with shortages of basic products such as food and medicine, in part because hard currency for imports is being diverted toward Wall Street investors.
Child malnutrition has reached the scale of a humanitarian crisis in four Venezuelan states, according to a May 2017 report by Caritas Internationalis, a Rome-based nongovernmental organization with links to the Catholic Church. Medicine shortages have also left children dying of preventable diseases.
Government officials say ideological adversaries are exaggerating problems for political effect.
But the situation is a stark contrast to the oil boom years of late socialist leader Hugo Chavez, who spent generously on social welfare programs while borrowing profusely to keep spending at full tilt.
Venezuela's debt is the highest yielding of emerging market bonds measured by JPMorgan's EMBI Global Diversified Index , paying investors an average of 31 percentage points more than comparable U.S. Treasury notes.
That is nearly double the spread on bonds issued by Mozambique, which is already in default, and more than six times the spread on bonds from war-torn Ukraine. (Additional reporting by Eyanir Chinea, Corina Pons, Deisy Buitrago, Editing by Rosalba O'Brien)