The US President has threatened Repsol with “devastating” sanctions if the Spanish company
doesn’t stop pumping and selling oil in Venezuela.
This type of threat came up already in February when the U.S. State Department for Venezuela
asked Repsol to change its businesses in the country.
Repsol replied that it will continue to comply with the law and the established embargoes.
Repsol’s employed capital in Venezuela is of 270 million dollars (1%) and 50,000 barrels (7% of
total production).
The threat comes after the White House already banned Chevron from drilling oil in Venezuela.