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Asia expected to import more Venezuelan crude if US sanctions kick in

North Asian refiners seeking to fill vacuum left by Opec's supply cuts, say traders and analysts

A supporter dressed as Uncle Sam during a rally against the US in Caracas, Venezuela, on Monday.[/ ] Washington is considering sanctions on Venezuela's oil industry in response to the ruling Socialist Party's crackdown on those opposed to the government.


ASIA would be the biggest beneficiary of any potential sanctions by the United States on Venezuela's oil sector, said traders and analysts, as exports from the South American Opec member could be redirected to the region, filling a vacuum left by producer supply cuts.