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US Treasury to Foreigners: No More Venezuelan Oil Transactions

teleSUR | February 2, 2019

The United States Treasury Department announced Friday that non-U.S. companies that buy Venezuelan oil through the U.S. financial system or U.S. commodity brokers, will not be allowed to carry out any purchase after April 28.

“Transactions to purchase petroleum and petroleum products from PDVSA or any entity in which PDVSA owns, directly or indirectly… and that involve U.S. persons or any other U.S. nexus… must be wound down by April 28, 2019,” the U.S. Treasury states in a note, adding that “U.S. person employees and contractors of non-U.S. companies located in a country other the U.S. or Venezuela are authorized to engage in certain maintenance or wind-down transactions with PDVSA, or any entity in which PDVSA owns, directly or indirectly… through Mar. 29, 2019.”

The U.S. Treasury release follows the U.S. sanctions imposed, on Jan. 27, on the Venezuelan state-owned oil company, Petroleos de Venezuela (PDVSA). As a consequence, Venezuela’s oil revenues obtained from sales to the U.S. market will be confiscated de facto.

Since most of the international oil trade is done in dollars, the United States is able to continue economic warfare against Venezuela, a country whose income comes mainly from oil exports.

Before President Donald Trump’s measures were put in place against Venezuela, the U.S. was the destination of 40% of Venezuela’s oil exports.

The sanctions affect some US$7 billion in PDVSA assets and will cause other US$11 billion in losses for the Venezuelan company throughout the next year.

February 2, 2019 - Posted by | Economics | , ,

3 Comments »

  1. Bully tactics. We must hope that they will backfire.

    Comment by traducteur | February 2, 2019 | Reply

  2. Surely this amounts to a de Facto declaration of War by the USA against a sovereign Nation? The so called “Leader of the Free World”(don’t laugh), has declared financial Warfare, with a view to taking control of the World’s largest Oil deposits from Venezuela.
    What appalling hypocrites the USA Government are……for ALL the World to see.

    Comment by Brian Harry, Australia | February 2, 2019 | Reply

  3. To me via helter-skelter/amateur observation and findings covering upwards of a decade, this unit (“Terrorist” Financing) of the US State Department is the “foreigner” in the toxic mix of current US economic-cum-political-cum-war-crimes policy (sic). It was set up, run, goosed, and is perpetuated exclusively by Zionist Jews (with names like Levitt, Leavy, Cohen…) who rotate from Zionist think tanks (e.g., WINEP) to State and back through a so-convenient revolving door. It all began circa 2005 in the midst of the “shock and awe” Dubya crime against the humanity and land of Iraq that was undertaken to take out forevermore the sole Arab power with any of the balls needed to support the Palestinians via word and deed; some of the Ziobastards are surely dual Zioentity-US citizens, and their first allegiance is to the Zioentity/monster. They regularly troop back and forth between the Zioentity and State, obtaining and assiduously following their marching orders, appearing and posturing before hearings of the Zio-Occupied US legislative (sic) body and within the executive (sic) horror show that currently trumps, if possible, anything ever known before. Sideshows like sanctions against North Korea and Venezuela (whose massive petro reserves are of salivating interest to the USZio global economic engine and its smooth/greased operation) are just to “prove” the “foreign” operatives’ “objectivity” and value (sic) to the US. Russia, of course, because of President Putin’s (invited) support of sovereign Syria, is in the crosshairs of economic sanctions and broad-scale vilifications orchestrated by the Zios who want nothing more than the dismemberment of Syria (remember the Golan) a la Iraq along their march to Mideast “full-spectrum dominance and control.”

    And tell me this (I’ve done no specific, long-term research): what is the tribal allegiance of the typical Secretary of the “US” Treasury Department?

    What is wrong with this picture? The endemic treason/high crimes and misdemeanors (aka cancer) rife in and constantly metastasizing in Occupied WashDC: that’s what’s wrong.

    The end game: Palestine Is Still THE Issue! For the Palestinians and their pitiable, immiserated “lives,” yesterday was worse than the day before; today is worse than yesterday; tomorrow will be worse than today.

    Comment by roberthstiver | February 2, 2019 | Reply


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