Explainer: U.S. sanctions and Venezuela’s exports and imports

FILE PHOTO: The Suezmax sized oil tanker Karvounis lies at anchor stranded off the coast of Louisiana for lack of a bank letter of credit to discharge its cargo of Venezuelan heavy crude, south of Port Fourchon, Louisiana, U.S. August 17, 2017. REUTERS/Jonathan Bachman

HOUSTON (Reuters) – The United States in January imposed sanctions on Venezuela’s most important global business – producing and selling crude oil – as the Trump administration ratcheted up its bid to force socialist president Nicolas Maduro out of power. Venezuela’s oil exports – accounting for more than 95 percent of the country’s export revenue […]

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