January 31, 2019 / 9:37 PM / 19 days ago

Venezuelan PDVSA's European customers put oil purchases on hold: traders

FILE PHOTO - The corporate logo of the state oil company PDVSA is seen at a gas station in Caracas, Venezuela, January 29, 2019. REUTERS/Andres Martinez Casares

(Reuters) - European customers of Venezuelan state-run oil firm PDVSA have put purchases of Venezuelan crude on hold, as new sanctions from the European Union loom following measures imposed earlier this week by the U.S. government, according to traders close to the decisions.

PDVSA’s main clients in Europe include its partner Nynas AB, which operates a group of specialized refineries, Spanish oil firm Repsol and Europe-based trading houses including Trafigura and Vitol, according to the company’s records.

European governments on Thursday agreed to lead an international crisis group with South American nations to seek new elections in Venezuela, threatening further economic sanctions as pressure increases on President Nicolas Maduro, whose re-election last year was largely seen as a fraud.

Reporting by Marianna Parraga and Collin Eaton, Editing by Rosalba O'Brien

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