The widening impact of U.S. sanctions against Venezuela has led to lower-than-expected profitability at Neste. The European refiner has a joint venture with Venezuela’s PdVSA which has faced tighter import rules since January. Neste CEO Peter Vanacker has stated the firm is “trying to do whatever it can to mitigate the situation”, though alternative sourcing may be a challenge given the specific grades of oil needed in Neste’s supply chain. That may explain a short-term surge in imports of oil from Venezuela to the EU. They surged 304.1% year over year in the t...