US could sanction more than 40 tankers for Venezuela business

The US could sanction more than 40 ships for engaging in the Venezuelan oil trade.

Government officials said the US Treasury Department's Office of Foreign Assets Control (Ofac) could blacklist 25 larger tankers and 17 smaller ones as the US looks to clamp down on Venezuela and its president, Nicolas Maduro, Reuters reported.

Citing government officials, the newswire said new sanctions could be rolled out over time, but would start soon.