Trump Orders GOP Donor's Oil Company to Leave Venezuela [View all]

Source: WSJ via Yahoo News

Oil magnate Harry Sargeant III is a GOP donor well known for his back-channel efforts to temper hostilities between the U.S. and Venezuela. On Friday, the Trump administration ordered his oil-trading company to leave the South American country.

Global Oil Terminals, part of a Florida conglomerate owned by Sargeant, lost authorization from the U.S. Treasury Department to work in Venezuela, as did Spanish oil-and-gas company Repsol and other foreign oil companies doing business there. Chevron previously received a similar notice.

The companies have until late May to wind down operations, escalating the Trump administration's campaign to isolate Venezuela, partly over frustration with its reluctance to quickly accept Venezuelan deportees.

Sargeant is known to play golf at Trump's Mar-a-Lago club one day and to jet down to Caracas the next. He has helped broker agreements aimed at deepening U.S. commercial engagement in Venezuela, which holds some of the world's largest reserves of oil and gas. Strongman Nicols Maduro calls Sargeant abuelo, or grandfather in Spanish.

https://finance.yahoo.com/news/trump-orders-gop-donor-oil-054800971.html

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