In this week’s roundup…The United States enforces economic sanctions on Venezuela’s state owned oil company, PDVSA, for violations to the restrictions imposed on trade with Iran, prompting a war of words between Caracas and Washington; and Venezuela to acquire space age reconnaissance technology with the help of China by 2012.
U.S. to sanction Venezuela’s PDVSA on Iran trade: sources, Reuters
The United States will sanction Venezuela’s state oil company PDVSA on Tuesday for dealing with Iran in violation of a U.S. ban on such trade, sources briefed on the matter told Reuters. Deputy Secretary of State James Steinberg was expected to announce the sanctions, which could include tough penalties such as being banned from the U.S. financial system or being denied U.S. contracts, the sources said.
Venezuela Official Says US Sanctions To Have Little Impact On Oil Exports, The Wall Street Journal
Venezuelan Foreign Minister Nicolas Maduro Thursday downplayed the possibility that the country would cut oil shipments to the U.S. because of sanctions slapped on state oil giant Petroleos de Venezuela by Washington.
OPINION: What can U.S. sanctions on Iran do?, Politico
After months of being eclipsed in headlines by the Arab spring, the Iranian nuclear front came alive again Monday. For the first time, the United States imposed sanctions on companies selling gasoline to Iran.
Venezuela condemns US sanctions against state oil firm, BBC News
The Venezuelan government has condemned US sanctions against state oil company PDVSA for trading with Iran. The moves were “imperialist aggression”, Venezuelan Foreign Minister Nicolas Maduro said. Washington imposed the sanctions on PDVSA and six other firms on Tuesday as part of a campaign to tighten sanctions on Iran over its nuclear program.
Mack: The Next Step Will Be Boycotting CITGO, PR Newswire
Responding to Hugo Chavez’s threats against the U.S. for taking action to eliminate Chavez’s support of the Iranian terrorist regime, Chairman of the Western hemisphere Subcommittee Connie Mack (FL-14) made the following statement: “The insulting and arrogant comments of the Chavez government in response to the U.S. which finally called out Venezuela for aiding Iran, by illegally selling prohibited materials, is unacceptable.
Venezuela threatens to interrupt US oil supply, Christian Science Monitor
Maduro threatened to interrupt US oil supply after Washington placed sanctions on the Venezuelan state oil company, this week. Venezuela’s foreign minister warned late Tuesday that it could no longer guarantee regular oil shipments to the United States after Washington placed sanctions on the Venezuelan state oil company, Petroleos de Venezuela SA (PDVSA), this week. The spat underscores long-running tensions over what Venezuelan President Hugo Chávez sees as America’s disproportionate, unjust exercise of power on the world stage.
Venezuela, China to launch satellite next year, AFP
Venezuela and China will develop an observation satellite to be built in Asia and launched from South America in 2012, according to Venezuela’s science and technology minister. Ricardo Menendez said Thursday that the earth-observation satellite, to be built at a cost of $140 million, would be used to monitor troop movements and illegal mining as well as study climate change and the environment.