US targets ‘corrupt’ Venezuela oil firm

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The US places sanctions on PDVSA and urges the military to back a peaceful power transfer.

There is a struggle of power in Venezuela that is causing the U.S. to get involved. Our job has always been to get into foreign affairs before we take care of our own (my opinion). Nicolas Maduro has been the President of Venezuela since 2013 and refuses to transition his power to new self declared President Juan Guaido. Looks a pure case of “old school vs new school”. Different countries are refusing to back Guaido and Maduro still maintains control of the military.

Because of the fued the U.S. has imposed sanction against state run oil company PDVSA. According to CBS News, “President Trump’s National Security Advisor John Bolton the sanctions amounted to, “$7 billion in assets blocked today, over $11 billion in lost export proceeds over the next year.” Mnuchin said the U.S. would “continue to use economic, diplomatic tools to support the Venezuelan people’s efforts to restore their economy.”

Source: US targets ‘corrupt’ Venezuela oil firm

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