WASHINGTON _ The Trump administration slapped new sanctions Monday against Venezuelan's state-owned oil company in its latest effort to push out President Nicolas Maduro and install new leadership under National Assembly chief Juan Guaido.
"We have continued to expose the corruption of Maduro and his cronies and today's action ensures they can no longer loot the assets of the Venezuelan people," National Security Adviser John Bolton said.
The sanctions prevent any dealings by PDVSA with U.S. companies unless under special conditions. Treasury Secretary Steven T. Mnuchin said any sales to the United States would go into a blocked account that would be inaccessible to the Venezuelan government. Mnuchin said that if Guaido succeeds in forming a government, the money would go to him.
