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U.S. tightens Venezuela oil sanctions, indicates more actions to come
Source: Reuters
WORLD NEWS JUNE 6, 2019 / 7:34 PM / UPDATED 3 HOURS AGO
U.S. tightens Venezuela oil sanctions, indicates more actions to come
Roberta Rampton
2 MIN READ
WASHINGTON (Reuters) - The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions.
The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at pressuring Venezuelan President Nicolas Maduro by limiting access to oil export revenue from PDVSA.
PDVSA had long relied on imports of diluents from the United States to add to its extra-heavy oil to make the crude exportable. But that trade was banned in January, forcing the company to look abroad for other suppliers.
The United States and most Western nations have backed opposition leader Juan Guaido, who invoked Venezuela’s constitution in January to assume an interim presidency, arguing that Maduro’s 2018 re-election was illegitimate.
-snip-
U.S. tightens Venezuela oil sanctions, indicates more actions to come
Roberta Rampton
2 MIN READ
WASHINGTON (Reuters) - The U.S. Treasury Department on Thursday tightened its pressure on Venezuela’s state-owned oil company by making clear that exports of diluents by international shippers could be subject to U.S. sanctions.
The change, announced on the Treasury Department’s website, is the latest U.S. measure aimed at pressuring Venezuelan President Nicolas Maduro by limiting access to oil export revenue from PDVSA.
PDVSA had long relied on imports of diluents from the United States to add to its extra-heavy oil to make the crude exportable. But that trade was banned in January, forcing the company to look abroad for other suppliers.
The United States and most Western nations have backed opposition leader Juan Guaido, who invoked Venezuela’s constitution in January to assume an interim presidency, arguing that Maduro’s 2018 re-election was illegitimate.
-snip-
Read more: https://www.reuters.com/article/us-venezuela-politics-usa/u-s-tightens-venezuela-oil-sanctions-indicates-more-actions-to-come-idUSKCN1T731E
