U.S. Sanctions Venezuela’s Oil Giant for Iran Trade

Reuters reports that the United States sanctions PDVSA, Venezuela’s state oil company, to disrupt Iran’s fuel supplies.

The market news is quoted as saying:

The U.S. sanctions against PDVSA, Venezuela’s state oil company, for engaging in trade with Iran are narrowly targeted, and will not affect the company’s vast sales of oil to the United States or the activities of its subsidiaries including U.S.-based CITGO.

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