USA increase sanctions on Venezuela

After the convocation of the Constituent National Assembly, the President of Venezuela, Nicolás Maduro, the United States of America reported that will extend the sanctions that have been applied to the Venezuelan oil industry.

Sources close to the Government said that there will be no blocking imports of raw material of Venezuela, at least at first, but that probably the United States promote the veto exports of oil and refined products to the South American country, besides restricting the Venezuelan State company PDVSA, the use of the banking system and American currency.

Another option that has been discussed is about the ban on American companies to invest in the energy sector of the country is mature. With the penalty, the South American country will have to resort to Algeria and Nigeria, which have higher prices, to buy light oil and mix with heavy it produces, action that could undermine the fragile Venezuelan economy.

American oil companies, in recent days, opposed any veto measure imports of Venezuelan oil, since the Gulf Coast organizations rely on this raw material to convert into fuel heavier grades of oil. However, the US Government has increased pressure against the Government plan to mature.

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