On January 23rd, President Trump recognized the opposition leader of Venezuela's National Assembly, Juan Guaido, as interim president of Venezuela. On Monday, January 28th, the U.S. announced sanctions against the Venezuelan state oil company, PDVSA. The company has long been a vehicle for embezzlement and corruption by officials and businessmen, according to Treasury Secretary, Steven Mnuchin.
Source: CNBC.
Mnuchin said in a press conference from The White House:
Effective immediately, any purchases of Venezuelan oil by U.S. entities, money will have to go into blocked accounts. I have been in touch with many