U.S. Considering Sanctions on its 3rd Largest Oil Supplier

Venezuela is third-largest oil supplier to U.S.
The U.S. is mulling sanctions against Venezuela’s oil industry, according to a Reuters report.

Reuters quotes sources saying that U.S. officials are currently evaluating different types of sanctions, and have not decided on what, or whether, sanctions should be imposed. Previous sanctions, which were imposed from 2011 to 2015, prevented PDVSA from bidding on U.S. government contracts. However, potential actions could be as severe as banning oil imports from Venezuela and preventing PDVSA from ...