US sanctions Venezuelan state oil group, tightening screws on Maduro
Trump aims to curb Opec member’s exports to US in move that will cost socialist president $11bn over next year
Washington/Caracas — The Trump administration has imposed sweeping sanctions on Venezuelan state-owned oil firm Petróleos de Venezuela (PDVSA), aimed at curbing the Opec member’s exports to the US severely and pressuring socialist President Nicolas Maduro to quit. Minutes before the announcement on Monday, Juan Guaido, the Venezuelan opposition leader who proclaimed himself interim president last week with US backing, said congress would name new boards of directors to the company and its US subsidiary, Citgo. Guaido, supported by most Western countries, says Maduro stole his re-election and should resign to allow new, fair polls. Maduro, in a live national broadcast on Monday, accused the US of trying to steal US refining arm Citgo Petroleum, the Opec member’s most important foreign asset, which also manages a chain of US petrol stations. He said Venezuela would take legal action in response. In the first sign of serious retaliation, three informed sources told Reuters that PDVSA h...
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