The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.
The sanctions would be imposed through the Treasury Department and are intended to avoid a U.S. military confrontation with the countries, the person said on the condition of anonymity.
The Trump administration is trying to deter Iran’s support for Venezuelan President Nicolas Maduro, who last month defended the right to “freely trade” with Iran. Both countries are under crippling U.S. sanctions.
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