Washington announces new restrictions against PDVSA

From the United States new sanctions arrive at the state oil company PDVSA, which adds more pressure to the management of Nicolás Maduro

On Monday, the US Treasury Department announced the inclusion in its list of organizations blocked to the state oil company Pdvsa based on what is known as “national emergency powers.”

The decision aggravates the political, economic and social situation that Venezuela is currently experiencing, after Juan Guaidó, president of the National Assembly, was sworn in as interim president on January 23rd.

The administration of US President Donald Trump deals a new blow to the management of Nicolás Maduro with the new sanctions, which “will dramatically reduce the income that the current Venezuelan government receives from the sale of oil.”

It is important to note that although Trump’s measures prohibit US companies To carry out transactions with PDVSA, controlled purchases of oil from Venezuela will be allowed until March.

Steven Mnuchin, Secretary of the Treasury, said that these sanctions seek to prevent “Maduro continue diverting those resources” and preserve them for the Venezuelan people. Citgo, which operates in the United States, will continue the business in this territory but the profits will also be deposited in frozen accounts.

Mnuchin added that the restrictions could be lifted on condition that Pdvsa control is handed over to Guaidó or if democratic and transparent elections are held in Venezuela.

The short-term consequences for Venezuela, and especially for the people, can be devastating, since the South American nation is affected by hyperinflation that, according to analysts, could exceed a historical percentage of 10,000,000.

M.Pino

Source: El Tiempo

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