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Treasury sanctions Venezuela state-owned oil firm

US announces sanctions against Venezuela oil firm from CNBC.

The Trump administration will sanction Venezuela’s state-owned oil firm, a move the White House has long put off for fear that it would raise oil prices and hurt American refiners.

The move comes after a turbulent week for Venezuela that has created a standoff over the country’s leadership. The sanctions aim to transfer control of Venezuela’s oil wealth to forces that oppose socialist dictator Nicolas Maduro and deprive the strongman of resources that could prolong his grip on power.

Last week, the opposition leader of Venezuela’s National Assembly, Juan Guaido, named himself interim president amid street protests. President Donald Trump soon recognized Guaido as the nation’s leader and his administration has been marshaling international support for the opposition figure since then.

Maduro, having recently started another term following highly disputed elections, is refusing to back down. He is supported by the country’s minister of defense and Russia.

Nicolas Maduro, president of Venezuela, speaks during a swearing in ceremony for the new board of directors of Petroleos de Venezuela SA (PDVSA), Venezuela's state oil company, in Caracas, Venezuela, on Tuesday, Jan. 31, 2017.

Carlos Becerra | Bloomberg | Getty Images
Nicolas Maduro, president of Venezuela, speaks during a swearing in ceremony for the new board of directors of Petroleos de Venezuela SA (PDVSA), Venezuela’s state oil company, in Caracas, Venezuela, on Tuesday, Jan. 31, 2017.

Treasury Secretary Steven Mnuchin on Monday determined that people operating in Venezuela’s oil sector are subject to U.S. sanctions.The nation’s energy industry is dominated by state-owned Petroleos de Venezuela, better known as PDVSA.

Mnuchin said PDVSA has long been a vehicle for embezzlement and corruption by officials and businessmen. The sanctions against PDVSA will prevent the nation’s oil wealth from being diverted to Maduro and will only be lifted when his regime hands control of them to successor government, he added.

“The path to sanctions relief for PDVSA is through the expeditious transfer of control to the interim president or a subsequent democratically elected government who is committed to taking concrete and meaningful actions to combat corruption,” Mnuchin said during a White House press briefing.

Under the sanctions, U.S. companies can continue to purchase Venezuelan oil, but the payments must be held in an account that cannot be accessed by the Maduro regime.

“If the people in Venezuela want to continue to sell us oil, as long as the money that money goes into blocked accounts, we’ll continue to take it,” Mnuchin said. “Otherwise we will not be buying it.”

Oil prices pared some losses after news of the sanctions broke, but major benchmarks were still down more than 2.5 percent following the official announcement. U.S. crude ended Monday’s session 3.2 percent lower earlier in the day.

In order to minimize disruptions and support for humanitarian aid, Treasury’s Office of Foreign Asset Controls has issued general licenses that authorize some transactions and activities with PDVSA to continue for a limited time, Mnuchin said. European and Caribbean companies will also be granted licenses so they can wind down business with PDVSA in an orderly fashion.

PDVSA’s Citgo refineries in the U.S. will be allowed to continue to operate, but revenues must be placed in an escrow account in the United States. Citgo operates three U.S. refineries with a combined ability to process about 750,000 barrels per day of crude oil into fuels.

Venezuela’s oil production has cratered in recent years following a long stretch of mismanagement and economic crisis that has prevented PDVSA from maintaining output, creating a vicious cycle of falling supplies and revenue.

Still, Venezuela remains one of the largest suppliers to U.S. refineries. Venezuela shipped an average 580,000 bpd of crude oil and petroleum products to the country in the year through October 2018, the last month data were available.

Confirmation of the administration’s intent to sanction PDVSA came from Sen. Marco Rubio prior to the press conference, after Axios earlier reported the impending actions.

“The Maduro crime family has used PDVSA to buy and keep the support of many military leaders,” Rubio said in a statement. “The oil belongs to the Venezuelan people, and therefore the money PDVSA earns from its export will now be returned to the people through their legitimate constitutional government.”

CNBC



115 Comments on "Treasury sanctions Venezuela state-owned oil firm"

  1. Pablo on Wed, 30th Jan 2019 8:01 am 

    Davy, remember tonight is humper pumper number nine.

    Give me cock or give me death.

  2. Davy on Wed, 30th Jan 2019 8:12 am 

    Juan, I realize you are not going to stop your escalations. You are obviously deranged and ill. You might be playing the mentally ill deranged crazy or you may be. You never know and sometimes people like you are a little of both. You start becoming so invested in your fantasy that you can’t stop yourself until you are what you play. Some people would say just leave Davy, you know, why risk a bad encounter with a low life idiot. My point of view is where does a man stop and take a stand and where does he turn away as a coward? As a survivalist I am prepping for bad encounters. I try to avoid them for example around here you don’t screw with people because they may be packing. Juan will likely try to find out who I am eventually. Mentally ill gregt threatened me in the same way going as far as telling me he was coming down to find me. He told me to check my mail and stupid mind games like that. I am going to head this off at the pass with you Juan and find out who you are. I mean how many Uruguay aliens are in the permaculture scene in Miami, not many…. No, Juan, I am not going to come down and find you. I am just going to learn more about you in case you decide to come up here. I am not leaving Juan and the harder you try to push me off the more effort I will make to stay. I have said from the beginning of your attempts at censorship I will ignore you if you ignore me. This is between you and me, no other side deals. That is and always has been my offer. You took it up for a while last year then “boom” you exploded into your insanity which most everyone except makati1 and anonymouse think is childish and destructive to our efforts here.

  3. JuanP sock on Wed, 30th Jan 2019 8:16 am 

    Pablo on Wed, 30th Jan 2019 8:01 am

  4. Davy on Wed, 30th Jan 2019 8:21 am 

    I’m having troubles deciding what I’m more obsessed with. JuanPee? Or penises vaginas and everything anal?

    It’s a tough call.

  5. Davy on Wed, 30th Jan 2019 8:33 am 

    Oh, and do they have goats? I want to get get in contact and touch any they happen to have. If there are no goats, I will am willing to settle for roosters, hens, but I really prefer 4 legs over two.
    Thanks in advance.

  6. JuanP on Wed, 30th Jan 2019 8:45 am 

    God, you are a fucking moron, Exceptionalist. My name is not JuanP, idiot! That is an alias. I used tthe alias John People first and then changed it to Juan Pueblo to reflect my latin origin because people got confused and thought I was American. Eventually, I settled on JuanP because I prefer short names because they take up less space. Feel free to look for me if you want; it is just another symptom of your insane obsession with bullying and threatening others. And come down here if you want to get up close and personal. I am not afraid of you; I have been beating bullies for over 40 years. I believe Antius has already figured out that you are clinically insane and you are completely alone here, buddy.

  7. JuanP on Wed, 30th Jan 2019 9:11 am 

    Davy, I am going to show your message to the Miami Beach PD and file a formal complaint against you to set the record straight and have the harrasment precedent on file if I ever need to defend myself from you and anything happens to you as a consequence. I know a captain in the force that I will go to for help with this matter. I am doing this on my attorney’s recommendation. I just texted my attorney your message and he recommended we file a complaint. I’d love to put you in jail, buddy.

  8. Davy on Wed, 30th Jan 2019 9:25 am 

    No shit Juan, are you stupid? Who uses their real name that behave like you. BTW, I would love for you to go to the Miami Beach PD they would laugh you out of the place. My local Sherrif on the other hand will listen to me.

  9. Davy on Wed, 30th Jan 2019 9:29 am 

    Lol, got your attention didn’t I. You might check into the rules governing green cards in regards to harassment when you talk to your phony attorney.

  10. I AM THE MOB on Wed, 30th Jan 2019 9:36 am 

    Clogg

    That news site was just busted for writing fake news for decades..And you still go back for more..You are dumber than dirt..You need a safe space..

    Good luck when the oil shortage hits..You and Asia are going to collapse hard..The germans know what is coming but they are powerless to stop it..

    At least the migrants will stop coming though..Careful what we wish for.

    LOL

  11. I AM THE MOB on Wed, 30th Jan 2019 9:46 am 

    You have to stand in awe of clogg ignorance..He links ‘Fracking is for amateurs” “WW2 for dummies”

    As Einstein always said “More the ego, lesser the knowledge”

    LOL

  12. I AM THE MOB on Wed, 30th Jan 2019 9:55 am 

    These are the people Clogg thinks are going to win a civil war

    https://imgur.com/a/UTLrizM

    LOL

  13. JuanP on Wed, 30th Jan 2019 10:41 am 

    I have already filed a report about your comment and behavior with the MBPD, Davy. I only did this to document your harrasment for future use if necessary. They kept copies and saved the links so they can trace your IP address if necessary. I know personally every police officer in my local precinct and they took the report quite seriously and agreed with me that your behavior is both threatening and insane. If you persist I will file a report with the FBI next. I know an SSA in the Miami office, too.

  14. Davy on Wed, 30th Jan 2019 10:47 am 

    LMFAO, sure you did Juan. BTW aren’t you sailing in the Bahamas?

  15. I AM THE MOB on Wed, 30th Jan 2019 11:02 am 

    Control women’s function and you control half the population.

    That’s the issue here.

    And you’re halfway to a totalitarian state—which is what the Jesus-freaks want–in preparation for the second coming.

    Only weak men seek to control women..

  16. Davy on Wed, 30th Jan 2019 11:46 am 

    I can’t say I wasn’t warned. All of the comments here are archived.

  17. JuanP identity theft on Wed, 30th Jan 2019 12:42 pm 

    Davy on Wed, 30th Jan 2019 11:46 am

  18. I AM THE MOB on Wed, 30th Jan 2019 12:44 pm 

    Juanp

    I use a VPN because I use a work laptop..So go fuck yourself and your spook friends!

  19. Davy on Wed, 30th Jan 2019 2:39 pm 

    What’s VPN mean Sean?

  20. juanp identity theft on Wed, 30th Jan 2019 3:05 pm 

    Davy on Wed, 30th Jan 2019 2:39 pm

  21. Cloggie on Wed, 30th Jan 2019 3:27 pm 

    https://www.dailymail.co.uk/news/article-6649215/Iceland-deemed-safest-country-world-Europe-dominating-20-places.html

    White countries, heaven on earth.

    To be defended with the harshest means, if necessary.

  22. Sean on Wed, 30th Jan 2019 3:44 pm 

    VPN is short for, Virtual Puppet Network dumbass. You should know that one.

  23. I AM THE MOB on Wed, 30th Jan 2019 4:20 pm 

    CLogg

    I guess you have never been to Russia then..

    Just wait till the oil shortage hits..And you will see Europe turn upside down..

    Don’t worry your multinational corporations will all just flee to America..And we won’t even have to bomb your cities into the stone ages like WW2..

    LOL

  24. JuanP on Wed, 30th Jan 2019 4:44 pm 

    Davy “LMFAO, sure you did Juan.”
    Whether you believe it or not is completely irrelevant, Davy. The report has been filed by the Miami Beach PD. I will also be save your comments that include attacks, threats, and bullying to me and others to establish a pattern of behavior as recommended by the officer that filed the report. And, as pointed out above all the comments on this site are archived. This is only to provide me with legal protection if you are injured or killed by me while defending myself from you.

  25. Davy on Wed, 30th Jan 2019 5:33 pm 

    Juan, you illegitimate anymore as a contributor. You are noise. Nobody believes a word out of your sick mind. You don’t even understand the law. You are mixed up and disturbed. Now you are paranoid and edgy. I thought you were going sailing or was that a fantasy too? stupid

  26. JuanP identity theft on Wed, 30th Jan 2019 5:35 pm 

    lunatic

    Davy on Wed, 30th Jan 2019 8:21 am
    Davy on Wed, 30th Jan 2019 8:33 am
    Davy on Wed, 30th Jan 2019 11:46 am
    Davy on Wed, 30th Jan 2019 2:39 pm

    I’m having troubles deciding what I’m more obsessed with. JuanPee? Or penises vaginas and everything anal? It’s a tough call. Oh, and do they have goats? I want to get get in contact and touch any they happen to have. If there are no goats, I will am willing to settle for roosters, hens, but I really prefer 4 legs over two. Thanks in advance. I can’t say I wasn’t warned. All of the comments here are archived. What’s VPN mean Sean?

  27. JuanP sock puppets on Wed, 30th Jan 2019 5:36 pm 

    multiple personalities

    JuanPee on Wed, 30th Jan 2019 7:46 am
    JuanPeePee on Wed, 30th Jan 2019 7:50 am
    Pablo on Wed, 30th Jan 2019 8:01 am
    JuanPee- We know your motives. You will “support” any candidate whom you believe will bring down the United States soonest. Go back to your South American shithole. Free speech is one thing, but to actively provide a home for a traitor like JuanPeePee who constantly advocates the destruction of the country of his residence is just wrong. Davy, remember tonight is humper pumper number nine. Give me cock or give me death.

  28. JuanP being mentally ill on Wed, 30th Jan 2019 5:37 pm 

    JuanP on Wed, 30th Jan 2019 8:45 am
    JuanP on Wed, 30th Jan 2019 9:11 am
    JuanP on Wed, 30th Jan 2019 10:41 am
    JuanP on Wed, 30th Jan 2019 4:44 pm

    God, you are a fucking moron, Exceptionalist. My name is not JuanP, idiot! That is an alias. I used tthe alias John People first and then changed it to Juan Pueblo to reflect my latin origin because people got confused and thought I was American. Eventually, I settled on JuanP because I prefer short names because they take up less space. Feel free to look for me if you want; it is just another symptom of your insane obsession with bullying and threatening others. And come down here if you want to get up close and personal. I am not afraid of you; I have been beating bullies for over 40 years. I believe Antius has already figured out that you are clinically insane and you are completely alone here, buddy. Davy, I am going to show your message to the Miami Beach PD and file a formal complaint against you to set the record straight and have the harrasment precedent on file if I ever need to defend myself from you and anything happens to you as a consequence. I know a captain in the force that I will go to for help with this matter. I am doing this on my attorney’s recommendation. I just texted my attorney your message and he recommended we file a complaint. I’d love to put you in jail, buddy. I have already filed a report about your comment and behavior with the MBPD, Davy. I only did this to document your harrasment for future use if necessary. They kept copies and saved the links so they can trace your IP address if necessary. I know personally every police officer in my local precinct and they took the report quite seriously and agreed with me that your behavior is both threatening and insane. If you persist I will file a report with the FBI next. I know an SSA in the Miami office, too. Whether you believe it or not is completely irrelevant, Davy. The report has been filed by the Miami Beach PD. I will also be save your comments that include attacks, threats, and bullying to me and others to establish a pattern of behavior as recommended by the officer that filed the report. And, as pointed out above all the comments on this site are archived. This is only to provide me with legal protection if you are injured or killed by me while defending myself from you.

  29. makati1 on Wed, 30th Jan 2019 5:51 pm 

    JuanP, probably good to have on record. I’m safe as it is too far and expensive for Davy to come here. He has no idea where I actually live. A good thing. He guesses but is far from the mark. If he truly lives in Missouri, he is enjoying a very cold time. Probably snuggled up with his goats, if they let him.

    It is cool here now also. About 74F as I type. Might get up to 76F later. 70F at night. No goats required. lol

  30. makati1 on Wed, 30th Jan 2019 6:01 pm 

    I see more examples of Davy’s arrogant delusions and putdowns above. But then, he doesn’t have a life, friends, family, only goat(s)…maybe. Certainly doesn’t have a rational, functional brain. Maybe the family retard?

    Soon he will be back with his long fluff pieces, no references, poor grammar, punctuation, etc. Then he will “go to bed” and MOB will appear. So predicable. So, boring.

    With any luck, maybe the big storm there will cut power for a few days and give us a rest from his bullshit? We can only hope. lol

  31. JuanP on Wed, 30th Jan 2019 6:04 pm 

    Davy “Juan, you illegitimate anymore as a contributor. You are noise. Nobody believes a word out of your sick mind.”

    Your opinion is irrelevant as are your lies, Davy.

  32. JuanP on Wed, 30th Jan 2019 6:08 pm 

    Davy “I thought you were going sailing or was that a fantasy too? stupid

    Your insult made this the first comment I saved to my new file containing your insults, threats, attacks, and bullying.

  33. JuanP on Wed, 30th Jan 2019 6:11 pm 

    Mak, I thought it necessary and so did my attorney. The police thought it was a reasonable step to take. Davy is obviously insane and potentially dangerous.

  34. Davy on Wed, 30th Jan 2019 6:15 pm 

    “So predicable. So, boring.”

    Geeze mr senile, look in the mirror. BTW, pretty hilarious you identify with a lunatic.

  35. Davy on Wed, 30th Jan 2019 6:18 pm 

    “Mak, I thought it necessary and so did my attorney. The police thought it was a reasonable step to take. Davy is obviously insane and potentially dangerous.”

    juanP, better call the consulate incase you incarcerated for being mentally unstable.

  36. Davy on Wed, 30th Jan 2019 6:25 pm 

    Juan, I wonder when I start inquiring about who you are in the permaculture scene down in south FLA if they will realize just how much you hate the US and Americans. You are clearly a deranged manipulative personality so I am sure you pretend to be a nice guy and all. People are going to be surprised when they learn the truth. BTW, I imagine makato’s family would also be surprised how hateful he is calling for mass murder of Americans like he does routinely.

  37. makati1 on Wed, 30th Jan 2019 6:39 pm 

    Delusional Davy is back with his usual putdowns, threats and general insanity.

    BTW Davy, my family knows how I feel and why. They too see the need, even though it will be painful for them. They cannot stop the collapse any more than you can. They CAN prepare and they do and are. They can always come here to the farm. We are prepared for that possibility.

    So, yes, I hope the US goes down soon and hard enough to stop its terrorist activities all over the world. You support that terrorism, I don’t.

  38. Davy on Wed, 30th Jan 2019 6:49 pm 

    “Delusional Davy is back with his usual putdowns, threats and general insanity.”

    What was it you did hypocrite?

    “BTW Davy, my family knows how I feel and why”

    You hide the truth makato. Sure they know your mild anti-American facebook shit. They don’t know how sick with hatred you are like what you puke here. Sorry, you are lying now.

  39. JuanP on Wed, 30th Jan 2019 6:50 pm 

    Davy, if you think that people that have known me for years and decades and have seen how I treat and help others constantly are going to listen to you you are simply deluding yourself. Nobody that knows me is going to pay any attention to you. What kind of person would listen to you? Feel free to do whatever you want. I am completely immune to your actions. I would not want to relate to anyone who paid any attention to you anyway. All the people in my life love me and respect me and are very happy and grateful to have met me, and they all know how I think. I have always been an honest and open person because I have nothing to hide and lying is a lot of work. Look at how you have lost track of your lies and are constantly contradicting yourself.

  40. JuanP on Wed, 30th Jan 2019 6:52 pm 

    Davy “They don’t know how sick with hatred you are like what you puke here. Sorry, you are lying now”

    You are projecting again, Davy.

  41. Davy on Wed, 30th Jan 2019 6:56 pm 

    JuanP, showing off his multiple personalities again. LOL

  42. Anonymouse on Wed, 30th Jan 2019 6:57 pm 

    Exceptionalturd, no one here, with one UNnoteable exception(lol), has any reason to doubt JuanP’s identity, achievements, or integrity. And unlike you, he has an actual sense of humor and calls it like it is.

    Your stupid threats and bluster are not worth the photons you wasted typing them. Detesting the rogue mafia regime, loosely known as ‘amerika’, is not a crime dumbass. In fact, amoung us humans, the sentiment is one that is rather widely shared. In case you hadn’t figured it out yet.

    Now why you dont put down your discount I-junk, and go stare aimlessly at the piles of discarded trash, weeds and assorted junk that litter your .9 acre empire, and dont come back till it’s all cleaned up. Or just dont come back at all. That would be best.

  43. Davy on Wed, 30th Jan 2019 7:02 pm 

    anon, your comments mean nothing and say nothing. You are like a bot. About the same time each day you come on and say the same shit. makato, anon, and juanp are one and the same, noise. You three are disgusting people and I am glad every waking moment here on this forum is because of me. Mission accomplished. Mentally ill extremists bite the dust.

  44. JuanP on Wed, 30th Jan 2019 7:13 pm 

    Davy “juanP, better call the consulate incase you incarcerated for being mentally unstable.”

    You are projecting again, Davy. You are the only person here likely to be institutionalized because of your mental problems.

  45. JuanP on Wed, 30th Jan 2019 7:17 pm 

    Davy “JuanP, showing off his multiple personalities again. LOL”

    Another lie from Davy. We all know he is the one stealing identities and using sock puppets. Your projections are a dead giveaway, Davy.

  46. makati1 on Wed, 30th Jan 2019 7:19 pm 

    Davy just keeps proving all that we say about him. An immature, delusional, bully who is frustrated because he cannot reach out and hit us like he probably did the kids in grade school. Or, maybe he was the one who was punched? Either way, he will not last long when the SHTF. The first person he mouths off to will just shoot him. A favor to the human race.

  47. I AM THE MOB on Wed, 30th Jan 2019 8:44 pm 

    Mak

    Give it a rest already..You are a mean old crank ranting like loon every day..Why dont you enjoy your retirement? You move to the other side of the world and then spend all day ranting about america..You obviously can’t get over your ex dumping you..

    Turn the page and get over it..

  48. Anonymouse on Wed, 30th Jan 2019 8:52 pm 

    Nice comeback DavyMOB. It only took you, what?, an hour and 45 mins to come up with that. Hope you didn’t damage your multi-polar brain while working on it.

    Dumbass.

  49. makati1 on Wed, 30th Jan 2019 9:57 pm 

    Yep, MOB/Davy. I will keep pointing out the US failures and cheering on its collapse until it can no longer threaten the rest of the world but is only able to keep its own country up to a 3rd world level. It deserves EVERYTHING coming to it and more. I do not pity serfs that value a wasteful lifestyle above human kindness and morality. Greed is killing the US and there is no cure. Adjust, snowflake! I’m enjoying the show. LMAO!

    “There’s no getting around the fact that America is in bad shape in many important ways. The wizards in the Federal Reserve have been able to use creative ways to maintain the debt bubble, but everything comes to an end eventually. The demographic changes going on in the country are creating very serious fissures regionally, ethnically and economically. Just look at how aggressive and radical the political talk is these days. America looks very brittle right now.”

    https://www.theburningplatform.com/2019/01/30/the-america-problem/#more-191014

    BTW: The old record you keep playing about the life you fantasize for me is getting scratchy. Lies are lies, no matter how many times you repeat them.

  50. makati1 on Wed, 30th Jan 2019 11:31 pm 

    This article is American hypocrisy in bright, flashing neon lights.

    https://www.zerohedge.com/news/2019-01-30/armed-services-committee-chairman-warns-us-and-china-headed-world-war-iii

    “Beijing’s ongoing expansion into the Spratly archipelago agitates neighboring nations and continues to challenge international law, an assertiveness the U.S. Navy attempts to check through routine freedom of navigation operations, or FONOPs.”

    Reality: American arrogance cannot accept that they are becoming @2 or lower on the food chain.

    “”I think it’s a harbinger of what a China-led order would look like…in terms of protecting and defending non-democratic regimes and impeding the ability of the international community to galvanize and respond,” ”

    Fact: America defends the Saudi Dictatorship and overthrows any democracy they don’t like, including their own. Hypocrites all.

    The Chinese have it correct: “When the Chinese hear such an idea, their reactions: 1. This Senator has mental problem. 2 He is seeking attention much like a radical internet troll. 3. There are problems with the American society that it produces such a nonsense-talking Senator.”

    Another example of American insanity.

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