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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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AssessmentsJul 28, 2017 | 09:00 GMT
Opponents of Venezuela's constitutional assembly rally in Caracas after a symbolic vote against the measure. The vote to authorize the body that will rewrite the country's constitution will be held July 30.
Venezuela, U.S. Sanctions and the Downward Spiral
Venezuela's political and economic crises may soon go from bad to drastically worse. Within weeks, the U.S. government could implement sanctions against Venezuela's vital oil sector to prevent the government in Caracas from formally starting down the path to a one-party state. In their most severe form, the sanctions would wreck Venezuela's ability to export oil to the United States by denying the state oil company Petroleos de Venezuela (PDVSA) access to the U.S. financial system. And U.S. companies would also be barred from doing business with the PDVSA. That would lead to a quick and steep drop in Venezuela's already declining oil production. In turn, imports would contract sharply and inflation would skyrocket, spurring the mass migration of millions of Venezuelans. But the United States could also resort to lesser sanctions limited at targeting individuals in the Venezuelan government. Either way, the unrest in Venezuela will continue.
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