March 19, 2018 / 6:56 PM / 8 months ago

U.S. actively looking into Venezuelan oil sanctions: official

FILE PHOTO - A boat is seen close to oil installations at Lake Maracaibo in Cabimas, Venezuela October 5, 2017. REUTERS/Isaac Urrutia

WASHINGTON (Reuters) - The Trump administration is actively exploring options to impose sanctions on Venezuela’s oil sector, a senior U.S. official said on Monday, after the White House issued an executive order barring the use of Venezuelan cryptocurrencies.

“We are considering all options, including oil sector sanctions options,” a senior administration official told reporters on a conference call. “We are actively considering what steps we want to take and what the best timing is to maximize the effect of our actions.”

The official said oil sanctions would not only have an impact on the government in Caracas, but also ordinary Venezuelans, countries in Central America and the U.S. economy.

Reporting by Lesley Wroughton; Editing by Marguerita Choy

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