Economics

U.S. Plans Oil Tanker Sanctions to Cut Iran-Venezuela Trade

Treasury Department considers sanctions on up to 50 tankers
U.S. trying to deter Iran support for Venezuela’s Maduro

Oil tankers are seen anchored in the Pacific Ocean.
Photographer: Patrick T. Fallon/Bloomberg

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By Saleha Mohsin

June 9, 2020 at 2:15 PM UTC

Updated on

June 9, 2020 at 8:30 PM UTC

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The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.