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SnapshotsAug 6, 2019 | 20:30 GMT
Venezuela: The White House Broadens the Target Set for Sanctions
The United States, with national security adviser John Bolton, the principal architect of the White House’s strategy to force the Venezuelan president to step down, leading the charge, is doubling down on an economic coercion campaign with the intent of either compelling Nicolas Maduro to accept an exit deal to pave the way for an election or improve the conditions for a coup. The biggest question moving forward is how far the U.S. Treasury Department can and will go in enforcing a more expansive sanctions strategy against Venezuela. The countries foremost on the U.S. radar for their economic involvement with Venezuela include Russia, China, Cuba, Iran, Turkey and India.
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AssessmentsJun 28, 2019 | 05:45 GMT
People relax on the bank of the Tagus River where Venezuelan PDVSA oil tanker Rio Arauca lies at anchor, having been impounded by Portuguese authorities for nearly two years due to unpaid debt, March 9. 
As Venezuela's Opposition Stumbles, the Country's Creditors Circle
Beyond Venezuela's day-to-day grind through economic and political chaos, legal chaos is looming. Over nearly 20 years of leftist rule, Venezuela has defaulted on nearly $175 billion in foreign debt and expropriated assets from dozens of foreign companies -- most of which took Venezuela's government to arbitration. With yearly oil export revenue sitting at less than $30 billion, Venezuela can't immediately meet most of its obligations to companies seeking debt and expropriation payments. And with the opposition faltering in its bid to unseat President Nicolas Maduro, credible attempts to lay the groundwork for a future economic recovery are receding. Given that, the economic task facing the opposition -- should it ever grab power -- will become larger than ever as the issue of unresolved payments clouds the prospects of sustainable growth.
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SnapshotsJan 29, 2019 | 02:47 GMT
Venezuela: The U.S. Raises the Stakes for Maduro With Oil Sanctions
On Jan. 28, the United States Treasury Department enacted heavier sanctions on Venezuela's oil sector. The intent of the sanctions is to force political and military elites in the United Socialist Party of Venezuela (PSUV) to recognize head of the National Assembly Juan Guaido as interim president of the country. The sanctions bar people and companies subject to U.S. jurisdiction from doing business with state energy company Petroleos de Venezuela (PDVSA) or investing and operating in the country's oil sector. The sanctions, similar to those imposed in November 2018 on the sale and purchase of Venezuelan-mined gold, will significantly complicate PDVSA's ability to operate. The Treasury Department also increased sanctions pressure by trying to divert revenue from PDVSA's refining arm, Citgo, to the opposition. Citgo is a private company that imports and refines Venezuelan oil in the United States. It will continue to operate in the United States as long
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SnapshotsAug 25, 2017 | 22:08 GMT
Venezuela: U.S. Oil Sanctions Add Fuel to the Fire
The United States is going after Venezuela's state-run energy company. On Aug. 25, the White House directed the Treasury Department to ban U.S. individuals and companies from financial transactions that create new debt with the Venezuelan government or Venezuelan state energy company Petroleos de Venezuela (PDVSA). This new U.S. measure increases pressure on Venezuela to discourage the ruling United Socialist Party of Venezuela (PSUV) from fashioning the country into a one-party state.
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ReflectionsApr 5, 2017 | 00:45 GMT
A default by Petroleos de Venezuela on its debt would likely hamper oil production, leading to tighter food supplies and stirring up further unrest in Venezuela.
A Crucial Deadline Looms for Venezuela
Venezuela has reached a critical point. To avoid default, state oil and gas company Petroleos de Venezuela (PDVSA) must make $3 billion in foreign debt payments over the next two months, and the government is scrambling to find the cash to do so. Although Venezuela has long lived with the risk of default on foreign debt, reports have surfaced that Caracas has yet to seal agreements for loans it will need to make the payments -- both those due soon and for the remainder of the year.
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AssessmentsFeb 17, 2017 | 22:02 GMT
Links to the narcotics trade in the Venezuelan ruling class
Venezuela: Where Drugs and Diplomacy Meet
The United States seems determined to take a harder line on Venezuela. On Feb. 15, U.S. President Donald Trump called on the Venezuelan government to free Leopoldo Lopez, a Venezuelan opposition politician who has been imprisoned since February 2014. Trump held a meeting the same day with Lopez’s wife, Lilian Tintori, and U.S. Sen. Marco Rubio. Meanwhile, hints have emerged that the United States will soon move to level new sanctions against the Venezuelan government for officials’ involvement in criminal activity. But Venezuela will not accept more punitive measures against its politicians without a fight.
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