US sanctions Venezuela’s oil sector again

US sanctions Venezuela’s oil sector again

Washington [USA]: Even though Venezuela has borne damages amounting to USD 100 billion from previous US sanctions, the United States on Friday imposed a fresh set of sanctions against Venezuela’s oil sector again, further crippling the humanitarian crisis in the Latin American country.

The new sanctions, imposed by the US Treasury Department, target four companies from Liberia and Italy. Nine ships belonging to the firms have also been sanctioned, according to Sputnik.

The United Nations, meanwhile, outlined that US sanctions have aggravated the economic situation in Venezuela, with UN Special Rapporteur Idriss Jazairy bringing attention to the humanitarian crisis in the South American nation.
Venezuela is currently facing a political and economic crisis, which is worsened by hyperinflation, blackouts, and an acute shortage of water and medicines.

National Assembly leader Juan Guaido proclaimed himself as the President of Venezuela in January, as protests calling for President Nicolas Maduro’s ouster shook the Latin American nation. The US immediately supported Guaido, asking other nations to back the self-proclaimed President.

Several countries called for Maduro to step down or hold fresh elections, as they largely view the elections which brought the 56-year-old leader to power as rigged.

The embattled President continues to hold on to his post and enjoys the Venezuelan military’s support.

Countries like US, UK, France, Japan, on the other hand, recognise Guaido as the interim President. However, China, Russia, and other countries have slammed international interference in Venezuela’s internal affairs, throwing their weight behind Maduro.

People Also Viewed