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US sanctions Venezuela hit the Mark

The U.S. government against Venezuela imposed economic sanctions are extremely severe. Because in spite of all the anti-American rhetoric of the socialist government in the USA were the most important customer of the only Venezuelan export product: oil. Contrary to Maduro's supporters also claim time and again in Europe, the United States has no "economic war" against the South American country. Quite the contrary: It was the income from the primarily for the American market, certain crude oil exports that have saved Venezuela so far before the complete collapse.

The economic misery of the oil-richest country in the world has set three Main reasons: first, the arbitrary expropriations, the state price controls, and the Corruption, inefficiency and bloating of the bureaucracy – an economic rampage, to the Nicolás Maduro predecessor Hugo Chávez. Legendary about the Episode is, as the founder of the Bolivarian Revolution, called during a television programme, an entrepreneur, and in front of the camera, with immediate expropriation threatened. Secondly, the collapse in the price of oil on world markets. And thirdly, the fact that the production of the state oil company PDVSA broke due to entrepreneurial bungling alone between 2013 and 2019, to almost 70 percent.

so Far, the toughest sanctions the United States

The so-called Chavism has plunged Venezuela into poverty, and therefore, it is economically extremely vulnerable. Currently, PDVSA exported daily 600'000 barrels of crude oil in the United States, meaning the group achieved a turnover of around 11 billion dollars. According to the Spanish newspaper "El País", this corresponds to 75 to 80 percent of its foreign exchange revenues. The money will now be paid on a kind of escrow account, but not the socialist government in Caracas has access to, but the oppositional interim President Juan Guaidó. Maduro sitting in a box in front of closed Money. "These are the so far hardest of the economic policy measures taken by the United States to Venezuela ever," said the Economist, petroleum specialist, Rafael Quiroz, "El País".

the Venezuelan oil refineries in miserable condition Because after almost twenty years of Bolivarian Revolution, is forced to change the Regime in Caracas, to produce more than 70 percent of the gasoline abroad and reimport. Here, too, the United States were up to now, Venezuela's most important trading partner. Maduro may now try to sell the commodity, increasingly, his allies Russia and China, but this takes time. Add to this that Venezuela's government operated with crude oil deliveries to Chinese and Russian loans, which you already received and spent a large part.

The United States enacted trade sanctions in Venezuela to a gasoline shortage, the Import of food, medicines and other imported goods more difficult, and the horrendous Inflation in addition to Stoke – this in a country where already since years an incredible misery. The Suffering of the Venezuelan population is getting worse, the price for Maduro's ouster increases on a daily basis. The calculus of domestic Opposition and the United States is that the majority of Venezuelans is in the hope for a new democratic start willing to pay him. (Editorial Tamedia)

Created: 30.01.2019, 20:46 PM

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