U.S. sanctions Venezuelan oil giant for Iran trade

[WestVirginiaRebel]

Reuters:

(Reuters) - The United States hit Venezuelan state oil company PDVSA with sanctions on Tuesday in a more aggressive bid to starve Iran of fuel, prompting fury and warnings from Venezuelan President Hugo Chavez's government.

The sanctions are largely symbolic because they do not limit the company's sale of oil to the United States and other global markets, or the activities of its U.S.-based CITGO subsidiary. Venezuela's response was inevitably noisy and Chavez's oil minister made a thinly veiled warning against oil shipments.

But during various flare-ups in the turbulent U.S.-Venezuelan relationship since Chavez came to power in 1999, several past threats to stop sending oil north have never been fulfilled.

The sanctions appeared to be the least severe of a range of options available to Washington, meaning PDVSA is barred from access to U.S. government contracts and export financing but avoided tough limits on its use of U.S. markets for financing.

They came after months of pressure from conservatives in Congress to take action against Chavez for his support of Iran, which Washington believes is secretly building a nuclear bomb.

"We're sending a clear message to companies around the world: those who continue to irresponsibly support Iran's energy sector or help facilitate Iran's efforts to evade U.S. sanctions will face significant consequences," said Deputy Secretary of State James Steinberg.
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Baby Hugo will not be pleased...

[clearvision]

The sanctions do not stop sale of their oil to US or anywhere else..... Take That!