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US sanctions Venezuela PDVSA, other co's on Iran trade

by Reuters
Tuesday, 24 May 2011 14:29 GMT

WASHINGTON, May 24 (Reuters) - The United States on Tuesday announced new sanctions on Venezuela's state oil company PDVSA and six other smaller oil and shipping companies for engaging in trade with Iran in violation of a U.S. ban.

Deputy Secretary of State James Steinberg said the sanctions on PDVSA would prevent it from access to U.S. government contracts and import/export financing, but would not affect the company's sale of oil to the United States or the activities of its subsidiaries.

The State Department also announced additional sanctions on a number of companies individuals from China, Syria, Iran, Belarus and other companies for nuclear proliferation activities involving both Iran and North Korea, Deputy Secretary of State James Steinberg said. (Rreporting by Andrew Quinn; editing by Vicki Allen)

Our Standards: The Thomson Reuters Trust Principles.


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