Trump takes aim at a Venezuela lifeline, which could raise prices at the pump

The White House is once again considering sanctions that could choke Venezuela’s oil production as the Trump administration weighs its next “strong and swift” action to take against Venezuelan President Nicolas Maduro, two senior administration officials told McClatchy. While a full embargo on purchasing Venezuelan oil — the so-called “nuclear option” — is being actively discussed, the administration is zeroing in on more surgical sanctions that block the sale of oil and oil processing products by U.S. companies to Venezuela and hinder Caracas’ oil industry without directly impacting the Venezuelan people. “It’s very real,” a senior administration official told McClatchy. “It’s a matter of considering when doing the next sanction or the next round of sanctions will maximize the pressure.” More…