Reuters: Tillerson raises specter of U.S. sanctions on Venezuelan oil
BUENOS AIRES (Reuters) - The United States is considering restricting imports of Venezuelan crude oil and exports of U.S. refined products to Venezuela, U.S. Secretary of State Rex Tillerson said on Sunday, to put pressure on socialist President Nicolas Maduro to “return to the constitution.”
“One of the aspects of considering sanctioning oil is what effect would it have on the Venezuelan people? Is it a step that might bring this to an end more rapidly?” Tillerson said at a news conference in Buenos Aires, referring to Venezuela’s economic and political crisis.
Tillerson, on a Latin America trip that also includes visits to Mexico, Peru, Colombia and Jamaica, raised eyebrows on Friday after he suggested that Maduro could be toppled by his own military.
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WNU Editor: Venezuela will scramble to find other markets. But if these sanctions are implemented, no oil service company is going to touch Venezuela. And while Venezuela will still continue to pump oil, it is inevitable that breakdowns and halts in production will occur. Bottom line .... it will take time but this is going to hurt Venezuela's ability to make money on its oil.
More News On U.S. Secretary of State Rex Tillerson's Remarks That The Is U.S. Considering Oil Sanctions Targeting Venezuela
Tillerson Says US Weighing Sanctions on Venezuelan Oil Sector -- Bloomberg
Tillerson says U.S. still considering Venezuela oil sale restrictions -- CBS/AP
Tillerson: US might put pressure on Venezuela by restricting oil sales -- The Hill
Tillerson: US Considering Venezuela Oil Embargo -- Sputnik International
