U.S. to Sanction Venezuela’s State-Owned Oil Giant

The U.S. imposed sanctions against Venezuela’s state-oil giant Petróleos de Venezuela S.A. on Monday in an effort to cripple President Nicolás Maduro’s government and empower an opposition leader. President Trump’s national security adviser John Bolton said the actions will block $7 billion in assets and cost the country $11 billion in lost exports during the next year. Treasury Secretary Steven Mnuchin said that the sanctions will have minimum effect on U.S. refineries doing business in the area. …

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