Armada of tankers with Venezuelan oil forms in U.S. Gulf: sources, data

The Trump administration's move to impose sanctions last week was meant to undercut support for Venezuelan President Nicolas Maduro by targeting the Latin American nation's oil exports to the United States, the source of most of its foreign revenue. The sanctions aim to block U.S. refiners from paying into PDVSA accounts controlled by Maduro - one reason numerous tankers are waiting in limbo off Venezuela with payments unclear. U.S. customers of Venezuela's state-run PDVSA are required by sanctions to deposit payments into escrow accounts that have not yet been set up.

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