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Tuesday, June 6, 2017

US considers possible sanctions against Venezuela oil sector:


The Trump administration is considering possible sanctions on Venezuela’s vital energy sector, including state oil company PDVSA, senior White House officials said, in what would be a major escalation of US efforts to pressure the country’s embattled leftist government amid a crackdown on the opposition. The idea of striking at the core of Venezuela’s economy, which relies on oil for some 95 percent of export revenues, has been discussed at high levels of the administration as part of a wide-ranging review of U.S. options, but officials said it remains under debate and action is not imminent.  The officials, speaking on condition of anonymity, told Reuters the United States could hit PDVSA as part of a "sectoral” sanctions package that would take aim at the Opec nation’s entire energy industry for the first time. More…

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