U.S. Blocks Venezuela Oil Deals Using Its Financial System

The U.S. already announced it would effectively prohibit imports of Venezuelan crude and bar companies from selling cargoes of light oil to the Latin American country, which are needed to keep its pipelines flowing. The latest measures posted on the U.S. Treasury’s website suggest the sanctions could have an even wider impact on the petroleum exports that constitute the nation’s economic lifeline. Any transactions with Petroleos de Venezuela SA, or any entity in which it has a controlling stake, involving U.S. citizens or passing through the country’s financial system must be wound down by April 28, the Treasury said.

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