• SENSEX
    NIFTY 50
Commodities
Powered by:

Global oil industry braces for turmoil from US crackdown on Venezuela

Updated : January 30, 2019 06:37 AM IST

The sanctions, announced on Monday, are aimed at driving President Nicolas Maduro from power, the strongest US measures yet against the socialist president who has overseen economic collapse and an exodus of millions of Venezuelans in recent years.
The sanctions froze assets of state-run PDVSA and require US firms to pay for oil using accounts controlled by the country's opposition party head and self-proclaimed interim president, Juan Guaido.
PDVSA is seeking to sidestep the restrictions by asking major buyers, including US refiners, to renegotiate contracts, sources said.
Global oil industry braces for turmoil from US crackdown on Venezuela
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV