U.S. CONSIDERS CUTTING VENEZUELAN OIL IMPORTS, AS PRE-SALES OF "PETRO" CRYPTOCURRENCY LOOMS | WHAT REALLY HAPPENED


U.S. CONSIDERS CUTTING VENEZUELAN OIL IMPORTS, AS PRE-SALES OF "PETRO" CRYPTOCURRENCY LOOMS

Washington may be nearing a decision on extending sanctions against Venezuela to include imports of Venezuelan crude and exports of U.S. refined products to the troubled South American country.

That’s what Secretary of State Rex Tillerson said during a visit to Argentina, adding that “One of the aspects of considering sanctioning oil is what effect would it have on the Venezuelan people? Is it a step that might bring this to an end more rapidly?”

Current sanctions target separate individuals from the Nicolas Maduro government as well as a ban on U.S. banks and other institutions buying Venezuelan debt. Venezuela has traditionally been an important exporter of oil to the United States, which made Washington wary of playing the oil import ban card.

Venezuela has been struggling to rein in the decline of its crude oil production resulting from underinvestment, mismanagement, and, most recently, U.S. sanctions. Last October, crude oil production fell to the lowest level in nearly 30 years, as PDVSA finds itself unable to pay for services rendered by oilfield service providers, who are now refusing to continue working with it.

Webmaster's Commentary: 

This is an attempt, pre-Venezuelan elections, to slam the Venezuelan economy into an economic hole from which it cannot escape, and drive the quality of life here to include even more misery than it's people are already experiencing.

I am quite certain, come the next elections here (happening on April 30th of this year), that the US is backing it's "favorite son" candidate with money, illegal votes, and expecting the returned promise that Venezuela's oil will only be sold to the multinational companies of which the US government approves, and only sold in US dollars.

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