January 29, 2019 / 9:15 PM / 10 months ago

Venezuela studying partial force majeure after US sanctions: oil minister

FILE PHOTO: Venezuela's Oil Minister and President of the Venezuelan state oil company PDVSA Manuel Quevedo talks to the media during a news conference in Caracas, Venezuela, August 7, 2018. REUTERS/Marco Bello/File Photo

CARACAS (Reuters) - Venezuela is studying several measures to react to new U.S sanctions against state-run oil firm PDVSA including partial force majeure, Oil Minister Manuel Quevedo said on Tuesday.

Quevedo told a news conference that oil tankers leaving Venezuelan ports must pay for crude before departing. The Trump administration announced sweeping sanctions on PDVSA on Monday aimed at driving President Nicolas Maduro from power by curbing crude exports to the United States

Reporting by Vivian Sequera and Ana Isabel Martinez; Writing Angus Berwick; Editing by Frank Jack Daniel; Editing by Frank Jack Daniel

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