US imposes sanctions on Venezuela state-owned oil company PDVSA

In USA, the Trump administration imposed sanctions on Venezuela’s state-owned oil company, PDVSA yesterday to put pressure on President Nicolas Maduro to cede power to the opposition. The sanctions will freeze any assets the firm may have in US. Maduro, in his television address yesterday said that his government will take legal action against the USA in international court against the sanctions.

The sanctions will not affect consumer prices at the gas pump in USA but will hit oil refiners, particularly those on the US Gulf Coast.
The sanctions come just days after the US and several European countries refused to recognise Maduro as Venezuela’s legitimate president  and instead recognised opposition leader Juan Guaido as the interim president.