Trump Administration Hits Venezuela's State Oil Company With $7 Billion in Sanctions

(WASHINGTON) — The Trump administration imposed sanctions Monday on the state-owned oil company of Venezuela, a potentially critical economic move aimed at increasing pressure on President Nicolas Maduro to cede power to the opposition in the South American nation.

Maduro's increasingly isolated government would lose access to one of its most important sources of income and foreign currency along with around $7 billion in assets of Petroleos De Venezuela S.A.

(WASHINGTON) — The Trump administration imposed sanctions Monday on the state-owned oil company of Venezuela, a potentially critical economic move aimed at increasing pressure on President Nicolas Maduro to cede power to the opposition in the South American nation. Maduro's increasingly isolated government would lose access to one of its most important sources of income and foreign currency along with around $7 billion in assets of Petroleos De Venezuela S.A.