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US announces sanctions against Venezuela’s state oil company PDVSA

RT | January 28, 2019

Washington has imposed sanctions against the Venezuelan state oil company PDVSA, seizing $7 billion in assets, Treasury Secretary Steven Mnuchin said. The US is trying to force recognition of Juan Guaido as president in Caracas.

Munchin said that the move is to “to help prevent the further diversion” of assets by “former president Maduro.”

Sanctions will be lifted upon the “expeditious transfer of control to the interim president, or the subsequently democratically elected interim government,” he added.

“We know what the legitimate government of Venezuela is, and it is our mission to make reality what the people of Venezuela want,” National Security Adviser John Bolton chimed in, standing next to Mnuchin during the briefing at the White House on Monday.

Washington immediately recognized Guaido as the head of the state after he declared himself interim president last week. US allies in the region and in Europe supported him as well.

The US buys a significant amount of Venezuelan oil, but Mnuchin said the sanctions would have “modest effect” on American refineries.

Citgo will continue operating in the US, but all profits from its sales will have to go into a blocked account, which will only be made available to Guaido’s government, the Treasury secretary explained.

“These are valuable assets we’re protecting for the benefit of the Venezuelan people,” Mnuchin argued.

Asked what the US options were if the Venezuelan military remains loyal to Maduro, Bolton said that a number of high-ranking officers, as well as rank and file, are in “significant contacts” with the US-backed regime of Juan Guaido.

January 28, 2019 - Posted by | Economics | ,

1 Comment »

  1. “Bolton said that a number of high-ranking officers, as well as rank and file, are in “significant contacts” with the US-backed regime of Juan Guaido”. History is repeating itself in Venezuela, where Mr Chavez was ‘eliminated’ when democratically elected by the Venezuelan people.

    So, the USA readily admits that it has openly interfered in the politics of a foreign country, yet complains that Russia interfered in the American election?
    Hypocrisy at the highest levels is NOT a good look, and kinda’ indicates that the ‘People at the top’ in the USA have zero credibility, and CANNOT BE TRUSTED, by The American People.

    Comment by Brian Harry, Australia | January 28, 2019 | Reply


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