Trump forces US oil billionaire to exit Venezuela
The Trump administration is pressuring oil magnate Harry Sargeant III to divest from his Venezuelan business interests. The US Treasury has frozen assets of his offshore company and issued a license to facilitate the unwinding of his ventures in the country.
Why it matters
This action highlights the use of financial sanctions as a tool of US foreign policy to isolate the Venezuelan government and pressure private entities with ties to the region.
The Trump administration is dialling up pressure on Florida oil magnate and Republican Party donor Harry Sargeant III to divest from Venezuela. The treasury department on Friday froze the assets of Sargeant's offshore company that participates in Venezuelan oil-producing ventures, according to sources.
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