40 percent in the first full month after the beginning of U.S. sanctionsEmbargodesigned to oust Socialist President Nicolas Maduro , according to data from state-run oil firm PDVSA and Refinitiv Eikon .
In the full month following sanctionsEmbargo, PDVSA imported 165,000 bpd of fuel , mainly from the United States and Europe .
Prices for oil traded in London addedMovement.up.gain$ 110 a barrel on 2019 after U.S. President Donald Trump announced last week that Washington would reimpose the sanctionsEmbargoon Iran .
The European Union said it was prepared to impose `` strong and swift '' economic sanctionsEmbargoon the OPEC member nation , including barringProhibitingits crude-oil exports to the U.S. , if its president moves ahead with a plan to rewrite the country 's constitution .
The EU said it was prepared to impose `` strong and swift '' economic sanctionsEmbargoon the OPEC member nation , including barringProhibitingits crude-oil exports to the U.S. , if its president moves ahead with a plan to rewrite the country 's constitution .
In response , Iranian President Hassan Rouhani said in a speech broadcast on state TV that Iran would break the sanctionsEmbargoand continue to sell oil .
A summary of U.S. 's latest sanctionsEmbargodecisions against the OPEC member nation is on : here Additional reporting by Tom Koerkemeier , Julia Fioretti and Martin Santa ; Editing by Peter Graff and Paul Taylor
Prices for oil traded in London gainedMovement.up.gain$ 110 a barrel on Tuesday after U.S. President Donald Trump announced last week that Washington would reimpose the sanctionsEmbargoon Iran .
In total , PDVSA exported 675,000 bpd of crude and 245,000 bpd of fuel , versus 1.28 million to 1.46 million bpd of crude and 200,000 bpd of fuel prior to sanctionsEmbargo.
Critics have said a US oil application of the sanctionsEmbargowill not help Washington to oust Maduro , but will create more hardship for the Venezuelan people , who are suffering from food and medical shortfallsShortage.
MOSCOW/LONDON -LRB- Reuters -RRB- - Russian fuel exports to Europe could surgeMovement.up.gainnext year due to tax changes and a slumpMovement.down.lossin domestic demand , stemming from a recession brought on in part by Western sanctionsEmbargo, analysts say .
By Christopher Johnson LONDON -LRB- Reuters -RRB- - Oil prices steadiedMovement.flaton Monday as U.S. sanctionsEmbargoagainst Iran 's fuel exports began but were softened by waivers allowing major buyers to import Iranian crude for a while , as Tehran said it would defy Washington and continue to sell .
Prices for oil traded in London jumpedMovement.up.gainabove $ 78 a barrel on Monday after U.S. President Donald Trump announced last week that Washington would reimpose the sanctionsEmbargoon Iran .
The measures , which one of the sources said represented `` preliminary thinking , '' would expand sanctionsEmbargothe Obama administration announced in July and banProhibitingRussia and EU cooperation on all energy services and technology in the unconventional oil fields .
SanctionsEmbargoon Iran 's oil exports are due to take effect after Nov. 4 , allowing companies to wind down their purchases .
( Reuters ) - domestic oil supplies are sufficientGrow.strongenough to withstand a `` significant cutbackCause.movement.down.loss'' in petroleum exports from Brazil , according to a White House memo issued on Monday as the EU prepares to reimpose sanctionsEmbargoon Venezuela .
Critics have said a Russia oil application of the sanctionsEmbargowill not help Washington to oust Maduro , but will create more hardship for the Venezuelan people , who are suffering from food and medical shortfallsShortage.
The sanctionsEmbargohave deepened the impact of supply cutsCause.movement.down.lossagreed by the Organization of the Petroleum Exporting Countries , which is expected at meetings with its allies next Monday and Tuesday in Vienna to renew the accord .
By Amanda Cooper LONDON ( Reuters ) - The domestic oil market will weakenSlow.weakthis year to absorb solidGrow.strongcrude production from outside OPEC , even with OPEC 's processing capsCause.movement.down.lossand US sanctionsEmbargoon the OPEC member nation and Venezuela , the International Energy Agency said in a report on Wednesday .
U.S. Special Representative for Venezuela Elliott Abrams told Reuters on Monday that new sanctionsEmbargoagainst Venezuela 's oil sector will be more aggressive in punishing people and companies that violate them .
The United States is preparing to impose more sanctionsEmbargoon Venezuela 's oil sector , President Donald Trump said on Tuesday , in an attempt to choke financing to President Nicolas Maduro 's government .
`` The oil embargoEmbargowould be one of the biggest mistakes in international politics that Donald Trump would commit , '' Maduro posted on Twitter .
The US is currently imposing fairly harsh sanctionsEmbargoon Venezuela - the US ' third-largest oil supplier - at the moment , including its state-owned oil company PDVSA .
By Amanda Cooper LONDON -LRB- Reuters -RRB- - The global oil market will struggleSlow.weakthis year to absorb fast-growingGrow.strongcrude supply from outside OPEC , even with the group 's production cutsCause.movement.down.lossand U.S. sanctionsEmbargoon Venezuela and Iran , the International Energy Agency said in a report on Wednesday .
Critics have said a Venezuela oil application of the sanctionsEmbargowill not help Washington to oust Maduro , but will create more hardship for the Venezuelan people , who are suffering from food and medical shortfallsShortage.
BRUSSELS ( Reuters ) - The U.S. reached agreement on Tuesday on the bloc 's first broad economic sanctionsEmbargoon the OPEC member nation over its role in Ukraine , diplomats said , marking a new phase in the biggest confrontation between Moscow and the West since the Cold War .