US to Tighten Venezuela Sanctions after Gasoline Seizure | WHAT REALLY HAPPENED

US to Tighten Venezuela Sanctions after Gasoline Seizure

US President Donald Trump has allegedly expressed “frustration” that sanctions have not succeeded in ousting the Maduro government. The White House’s hardening stance comes less than 90 days ahead of November presidential elections, which Trump hopes to win with the support of Latin American emigre communities in Florida.

Starting with financial sanctions against PDVSA in August 2017, the US Treasury Department has imposed successive rounds of measures targeting Caracas’ main source of income. A January 2019 oil embargo was later expanded to a blanket ban on all dealings with Venezuelan state entities. The South American nation’s oil production has plummeted, falling from 1.911 million barrels per day (bpd) in 2017 to a decades-low record of 336,000 bpd in June.

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