U.S. cautions companies like Reliance, Chevron over ties with Venezuela government

Trump administration is increasing its pressure against Venezuelan President Nicolas Maduro’s government and the energy companies which have ties with it. The companies include from Russia’s Rosneft (ROSN.MM) to U.S.-based Chevron Corp (CVX.N) and the US administration said that they should “tread cautiously”.

The comments came in response to a question about possible sanctions against Rosneft on a call with reporters ahead of a White House meeting between Venezuelan opposition leader Juan Guaido and U.S. President Donald Trump.

“Everything is an option as regards creating pressure, whether it’s towards Russian entities that are supporting Maduro or others. So, absolutely, that ... remains on the table,” the official said, emphasizing that the administration was “concerned” by more than just Rosneft’s behaviour.

“Whether it’s Rosneft, whether it’s Reliance, whether it’s Repsol, whether it’s Chevron here in the United States, I would tread cautiously towards their activities in Venezuela that are in support, directly or indirectly, of the Maduro dictatorship because ... we’re halfway through our maximum pressure campaign,” he added.

Rosneft, Reliance, Repsol and Chevron are the main business partners for PDVSA since the United States imposed the steepest sanctions yet on the state-owned Venezuelan company last year.

Most of them share oilfields with PDVSA in Venezuela. These companies also act as intermediaries for sales of Venezuelan oil to markets such as Asia.

Washington imposed a first round of sanctions on PDVSA a year ago, depriving the state-run firm of its main market, the United States. In August, it announced new sanctions targeting non-U.S. firms buying Venezuelan oil.