The Trump administration’s sanctions on Venezuelan oil, aimed at driving President Nicolas Maduro from power, sent shockwaves around the world on Tuesday, triggering higher global oil prices and angry responses from China and Russia.
The White House imposed restrictions on Venezuelan state-oil company PDVSA on Monday with the goal of curbing some $11 billion of crude exports from the OPEC member to the United States this year.
The Kremlin condemned the sanctions as illegal interference, while China said they would lead to suffering for which Washington would bear responsibility. Both countries have lent billions of dollars to Venezuela and are concerned about new stress on debt payments.
(Reuters)