# Treasury to sanction Venezuela state-owned oil firm

> The Trump administration announced sanctions on Venezuela's state oil firm PDVSA, aimed at shifting control of oil revenue away from Maduro. U.S. companies may still import Venezuelan oil, but the funds must be held in inaccessible accounts.

- Date: 2019-01-28 · published 2019-01-28T12:00:00.000Z
- Category: geopolitics · region Venezuela · magnitude medium
- Page: https://feedsoft.ai/events/61245-treasury-to-sanction-venezuela-state-owned-oil-firm
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sanctions on a major heavy-crude exporter to the U.S. may reduce supply to Gulf refiners and support crude prices. The impact is limited because U.S. imports are still permitted.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-01-29 | [Oil prices up two percent following U.S. sanctions on Venezuela](https://feedsoft.ai/events/61243-oil-prices-up-two-percent-following-u-s-sanctions-on-venezuela.md) | +5.2% | +6.8% |
| WTI | 2019-01-29 | [Oil prices rise as US imposes sanctions on Venezuela](https://feedsoft.ai/events/61242-oil-prices-rise-as-us-imposes-sanctions-on-venezuela.md) | +5.2% | +6.8% |
| WTI | 2019-04-23 | [Oil surges amid OPEC caution to offset Iran sanctions](https://feedsoft.ai/events/9603-oil-surges-amid-opec-caution-to-offset-iran-sanctions.md) | -3.4% | -3.9% |
| WTI | 2025-02-27 | [Oil climbs more than 2% after Trump cancels Chevron's Venezuela licence](https://feedsoft.ai/events/26207-oil-climbs-more-than-2-after-trump-cancels-chevron-s-venezuela-licence.md) | -3.3% | +1.6% |
| WTI | 2019-04-01 | [OPEC oil output hits four-year low on Saudi cuts, Venezuela blackouts](https://feedsoft.ai/events/59501-opec-oil-output-hits-four-year-low-on-saudi-cuts-venezuela-blackouts.md) | +4.9% | +5.4% |
| BRENT | 2019-01-29 | [Oil prices up two percent following U.S. sanctions on Venezuela](https://feedsoft.ai/events/61243-oil-prices-up-two-percent-following-u-s-sanctions-on-venezuela.md) | +4.3% | +7.6% |
| BRENT | 2019-01-29 | [Oil prices rise as US imposes sanctions on Venezuela](https://feedsoft.ai/events/61242-oil-prices-rise-as-us-imposes-sanctions-on-venezuela.md) | +4.3% | +7.6% |
| BRENT | 2019-04-23 | [Oil surges amid OPEC caution to offset Iran sanctions](https://feedsoft.ai/events/9603-oil-surges-amid-opec-caution-to-offset-iran-sanctions.md) | -1.0% | +0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/01/28/treasury-set-to-sanction-venezuela-state-owned-oil-firm-sen-rubio.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.