Chavez May Curb Oil Sales to U.S. in Response to Iran Sanctions

- May 25th, 2011

Bloomberg reports that Venezuela announces it may not be able to guarantee all future oil shipments to the U.S.

Bloomberg reports that Venezuela announces it may not be able to guarantee all future oil shipments to the U.S.

The market news is quoted as saying:

The U.S. yesterday imposed economic sanctions on state oil company Petroleos de Venezuela SA’s and six other foreign companies for working with Iran’s energy industry in ways that might bolster the country’s “illicit” nuclear program. PDVSA, as the company is known, delivered at least two cargos of a gasoline additive worth $50 million to Iran between December and March, the U.S. State Department said in a statement.

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