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US Threatens to Funnel Venezuelan Oil Revenues to Guaido

People walk next to a bus with the corporate logo of Venezuela's state oil company PDVSA, close to its headquarters in Caracas, Venezuela January 28, 2019 | Photo: Reuters file People walk next to a bus with the corporate logo of Venezuela's state oil company PDVSA, close to its headquarters in Caracas, Venezuela January 28, 2019 | Photo: Reuters file
In a further move to execute a coup to overthrow the Venezuelan government bringing to power the self-declared interim president Juan Guaido, the United States government started diverting the oil revenues of the country to the opposition leader.

The first time an official from the U.S. government made the announcement appears to be from a source with little credibility. U.S. lawmaker Marco Rubio - from the far-right Tea Party, and known within his party for being inconsistent yet highly influential in the White House’s policy toward Venezuela, may have taken the lead, basing his claims on a Wall Street Journal report on the issue.

The politician has been active for several years in trying to inflame relations between the United States and Venezuela.

The White House did not immediately confirm the allegation, according to La Prensa. Soon after, the U.S. Treasury and the National Security Adviser John Bolton made official announcements confirming that President Nicolas Maduro’s government would be “disconnected” from resources and that these would be redirected to Guaido.

Treasury Secretary Steve Manuchin informed that the revenues from Venezuelan oil sold to the United States would go directly to blocked accounts. Moreover, all the sales of oil which had already been paid for and that are currently stationed at sea could arrive at U.S. refineries but new purchases could only take place under the new terms.

“If the people of Venezuela want to continue to sell us oil, as long as that money goes to blocked accounts, we’ll continue to take it. Otherwise, we will not be buying it [oil],” said Manuchin.

This is part of a U.S. strategy to choke the Venezuelan government and to bolster Guaido with whom it shares the interest of deposing President Maduro by all means necessary.

The consequence of the newest set of sanctions will be to deprive the Venezuelan government of US$11 billion in exports and to freeze US$7 billion worth in assets.

Before the announcements were made by the Treasury and National Security, Juan Guiado was already busy announcing that Congress would hand out new board positions of the governments U.S. subsidiary, CITGO.

  • Countries: Latin America

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