"US Oil Sanctions on Venezuela Threaten Revenue and Fuel Imports"
Originally Published 1 year ago — by Reuters
The reimposition of US sanctions on Venezuela's oil and gas sectors is expected to impact the country's ability to generate revenue from oil exports, hinder new energy investments, and raise the risk of domestic fuel scarcity. The US has ordered a wind down of business transactions with Venezuela's state miner and threatened to unwind easing of energy sanctions if President Maduro's administration does not adhere to an agreement for a fair presidential election. The potential return of sanctions could reduce Venezuela's oil revenue and impede economic growth, while also increasing the risk of fuel shortages.