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US sanctions Venezuelan state oil firm, escalating pressure on Nicolas Maduro

Updated : January 29, 2019 07:23 AM IST

Minutes before the announcement, Juan Guaido, the Venezuelan opposition leader who proclaimed himself interim president last week with US backing, said congress would name new boards of directors to the company and its US subsidiary, Citgo.
Juan Guaido, supported by the United States and most countries in the Western Hemisphere, says Nicolas Maduro stole his re-election and must resign to allow new, fair polls.
The sanctions, contained in an executive order issued by US President Donald Trump, freeze US-based assets of PDVSA, Venezuela's largest source of revenue.
US sanctions Venezuelan state oil firm, escalating pressure on Nicolas Maduro

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