Venezuela Rejects US Sanctions, Evaluates Oil Supply to US | venezuelanalysis.com
Venezuela’s government strongly rejected the Obama administration’s attempt to sanction its state-owned oil industry, PDVSA, and interrupt its relations with other nations. Latin American nations and groups worldwide have expressed support for Venezuela’s deﬁant stance.
On Tuesday morning, the US State Department, announced it was imposing unilateral sanctions against seven international companies, including Petroleos de Venezuela, S.A. (PDVSA). This decision marks the ﬁrst time the US government has taken direct hostile action against the Venezuelan state-owned oil company, which is one of the largest oil companies in the world.
The Venezuelan government reacted ﬁrmly to the unilaterally imposed sanctions, clearly stating it will no adhere to any decision made by the US government regarding its oil business, nor will it accept any US interference in its relations with other nations. During a joint press conference late Tuesday afternoon, Venezuela’s Foreign Minister, Nicolas Maduro, and PDVSA President and Oil Minister, Rafael Ramirez, labeled the US sanctions as a “hostile act of aggression” against the South American nation. They also announced that Venezuela is “thoroughly evaluating its response” and whether the US decision will “affect the supply of 1.2 million barrels of oil daily to the US”.