U.S. Hits Venezuela’s Oil Lifeline with New Sanctions

The U.S. Treasury Department has imposed new sanctions on four firms and four oil tankers. The move targets a network it says is propping up Venezuelan President Nicolás Maduro. The sanctions focus on foreign oil traders and the vessels they use. The Treasury states these entities help Venezuela export its oil, providing a key financial lifeline to Maduro's government. This action freezes any U.S. assets owned by the sanctioned companies and ships. It also bans Americans from dealing with them. The sanctions are part of a long-standing U.S. pressure campaign. The goal is to restrict the Venezuelan government's revenue from oil sales.