US oil sanctions take effect on Venezuela as crisis intensifies
US sanctions came into effect Sunday to block Venezuela’s economic lifeline of oil exports, in what Washington hopes will be a major blow in its fledgling campaign to topple leftist President Nicolas Maduro.
As of 12:01 am Washington time (0401 GMT), the United States will take action against anyone who deals with state-owned Petroleos de Venezuela, or PDVSA, or any entity in which the company holds at least a 50 percent stake.
It is among a volley of steps by President Donald Trump’s administration to oust Maduro and install opposition leader Juan Guaido, who is recognized by more than 50 countries, including most in Latin America.
