The Venezuelan Government's Worst Year Begins This Week [Forbes]
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Source: Forbes
The Venezuelan Government's Worst Year Begins This Week A pro-government supporter holds a sign that reads "They attack for oil" during a rally in Caracas, Venezuela, on Thursday, Jan. 31, 2019. U.S. sanctions just got worse. Monday marks the start of the first full business week where oil firm PdVSA faces a blockade of oil revenues to the country. Photographer: Marco Bello/Bloomberg photo credit: © 2019 Bloomberg Finance LP Today marks the beginning of Venezuela's government's first week without U.S. oil revenue. The U.S. government went ahead last week and sanctioned state run oil firm PdVSA, banning crude oil exports to the United States after April 28. Before that however, PdVSA's proceeds from oil sales have to be kept in blocked accounts in the U.S. and cannot be transferred back to Caracas, where the ruling Socialists United Party faces an overthrow attempt by the opposition with tacit support from Washington. The Office of Foreign Assets Control sent out a clarification note o
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