Treasury Imposes Sanctions On Venezuelan State Oil Firm

The U.S. has imposed sanctions on Venezuela's state oil company, Petroleos de Venezuela (PDVSA), reports the Treasury Dept. 

The measures block about US$7 billion in assets and could result in US$11 billion in losses over the next year, National Security Adviser John Bolton said on Monday in a press conference announcing the sanctions, as reported by CNN.

The sanctions immediately entered effect, said Treasury Secretary Steve Mnuchin.

Money used to purchase Venezuelan oil by U.S....