U.S. orders foreign firms to further cut down on oil trades with Venezuela


U.S. orders foreign firms to further cut down on oil trades with Venezuela

The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said.

The move comes as Washington’s efforts to oust President Nicolas Maduro in favor of opposition leader Juan Guaido have stalled, and is further evidence of how it is leaning on non-U.S. firms to achieve its foreign policy goals.

The U.S. imposed fresh sanctions on Venezuela’s oil industry earlier this year but some companies have continued to supply the country with fuel from India, Russia and Europe. Read More

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