Home » Money

US Sanctions on PDVSA Look Like a De Facto Oil Embargo

30 January, 2019, 02:54 | Author: Lawrence Cooper
  • Venezuela's Guaido expresses concern over Greek position | News

The Venezuelan opposition leader challenging Nicolas Maduro's claim to the presidency says he has spoken with U.S. President Donald Trump.

Guaido, the National Assembly leader, invoked the constitution and declared himself interim leader pending a new election. "The oil belongs to the Venezuelan people, and therefore the money PDVSA earns from its export will now be returned to the people through their legitimate constitutional government". "Be on alert, Venezuela!".

Washington's tough sanctions against Venezuela came days after it recognized the opposition leader Juan Guaido as interim president of the Latin American country, denouncing incumbent President Nicolas Maduro who won the elections previous year with over two thirds of the votes.

Irwin Cotler, a former Canadian justice minister who now sits on the Organization of American States panel investigating alleged crimes against humanity in Venezuela, said the Lima Group should use its coming meeting to find ways to pressure the Venezuelan military to support Mr. Guaido. "So even though today's announcement applies to PDVSA's dealings with USA persons, the oil sanctions have much broader application".

The move to recognize Guaido by these European powers followed similar recognition by Argentina, Brazil, Chile and Colombia last week.

The disputed president Nicolás Maduro is still clinging on to power and has broken diplomatic ties with the US government.

US military invention is seen in Washington as highly unlikely, but President Donald Trump has repeatedly said "all options are on the table" and notes Bolton held at a Monday briefing containing the words "5,000 troops to Colombia" have raised questions.

International Brent crude oil futures rose over 2 percent on Tuesday in reaction.

Always learning, Rams’ Goff seeks results in NFC title game
They were eventually upset by the Patriots on a last second Adam Vinateri field goal, which started the Patriots dynasty. The Saints settled for a field goal but were denied the chance to run the clock down and virtually end the game.

India launches Kalamsat, Microsat-R satellites
He also confirmed that the countdown for PSLV-C44 mission begins at 7.37 pm on Wednesday for launch on Thursday night at 11.37 pm. India conducted its first launch of the new year on January 24, launching two satellites from the Satish Dhawan Space Centre .

Nissin takes down ad after complaints about Naomi Osaka's depiction
Osaka, who signed-on with the brand back in 2016 when she was still a junior, has not publicly commented on the controversy. After the ad was first published online, fans of Osaka and others on social media said they were deeply disappointed.

Since the 1920s, when American prospectors first discovered vast amounts of oil on the shore of Venezuela's Lake Maracaibo, the United States has been the main destination of the country's sole significant export.

"The US has. publicly taken a course toward illegal regime change", he said Tuesday.

"In this case, this is a continued line on undisguised interference in the internal affairs of Venezuela", the Kremlin spokesperson said. Venezuela is among the world's largest heavy crude oil producers.

In Spain, state-owned shipbuilder Navantia said it has called back four Spanish technicians from Venezuela who were readying for final delivery a navy patrol ship sold 14 years ago to the Venezuelan government.

But Venezuela is very reliant on the US for its oil revenue.

Russian Federation has accused Washington of trying to usurp power in Venezuela and warned against military intervention.

The loss of revenue from the United States, the No. 1 buyer of Venezuelan crude, was sure to further hamper the government's ability to import basic goods like food and medicine, exacerbating a humanitarian crisis that has prompted more than 3 million people to flee the hyperinflation-stricken country in recent years.



Steve Martin still a wild and insane 'SNL' guy - as Roger Stone
What there hasn't been so far is any evidence or any charges of conspiracy on the American side in terms of, like, collusion. All told, Mueller has charged six Trump associates and 34 people overall, along with three companies.

1; Tiger Woods Rises to 12th
He carded five birdies in nine holes, finishing with two birdies to close the day at -5 and the tournament itself at 10-under. He did manage to knock in back-to-back birdies on his back nine which included a chip-in birdie on his 13th hole.

Daniel Radcliffe Trashes Tom Brady Over His President Trump Hat
Green Airport, where they will board their flight to Atlanta around noon for the start of Super Bowl week. Trump congratulated the Patriots on making it to the Super Bowl this year on his Twitter account.

Manikarnika witnesses a big jump in its collections on day two
Bhakti Klein, Nihar Pandya, Rajiv Kachroo, Yash Tonk, Unnati Davara, Taher Shabbir, Manish Wadhwa and Nalneesh Neel. The film has taken full advantage of Republic Day (Holiday) and collected Rs 18.10 crores at the box office.

New Zealand vs India
The second match saw nearly every top order batsman get a start but none of them could go on to convert that into a big score. Should India seal the series on Monday, one can expect team management to indulge in some rotation for the last two ODIs.

USA crude oil refinery inputs decrease last week
The EIA reported Thursday that domestic supplies of natural gas fell by 163 billion cubic feet for the week ended January 18. The only countries that sent more crude to the United States were Canada, Saudi Arabia and Mexico.

Donald Trump delays State of the Union address over shutdown
The White House and Democratic lawmakers have been accusing one another of pettiness since Pelosi raised doubts about the speech. Mrs Pelosi has said she's not budging until the government reopens - and in this particular case, her word is final.

Reasons why Gonzalo Higuain might not be successful at Chelsea
It is exactly the same questions as when I came over here and it is the same questions we pose for players who come over here. However, Higuain's reunion with Sarri, his former manager at Napoli , might not turn out be very successful for Chelsea .

Siro says it raised security issues with Huawei but sticks with firm
A Huawei spokesperson said: " Vodafone and Huawei are long-term strategic partners that have worked together since 2007". Completely banning Huawei's radio network would lead to a "a significant delay" in the launch of 5G networks in the UK".

Mark Zuckerberg just released a predictably misleading defense of Facebook's data practices
At the time that Facebook bought the firms, Zuckerberg promised WhatsApp and Instagram plenty of autonomy from its parent company. The plan is to keep the apps as stand-alone networks, but have them contained on a unified underlying message infrastructure.