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NEWS ALERT : U.S. Levies Sanctions Against Venezuela State Oil Giant PdVSA

NEWS ALERT : U.S. Levies Sanctions Against Venezuela State Oil Giant PdVSA

WJ - The U.S. imposed sanctions against Venezuela's state oil giant, Petróleos de Venezuela, hitting the country's main export in a move to cripple the Nicolás Maduro government and empower opposition leader Juan Guaidó.

At the White House, President Trump's national security adviser, John Bolton, announced that the actions will block $7 billion in assets and cost Venezuela $11 billion in lost exports during the next year. Treasury Secretary Steven Mnuchin said the sanctions will have minimum effect on U.S. refineries doing business in the area.

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