Related Articles
Forward article link
Share PDF with colleagues

Chavez cosies up to China amid US sanctions

US sanctions on Venezuela, for supplying fuel to Iran, will have little practical impact as the country forges closer ties with rapidly developing Asian markets

The US had imposed sanctions on Venezuela’s state-owned PdV for delivering at least two shipments of refined petroleum products, worth $50 million, to Iran. PdV is one of seven shipping and oil companies accused of supplying fuel to the Islamic republic in defiance of a US embargo intended to pressure Iran to “comply with its international obligations” to abandon its nuclear development programme. Venezuela reacted angrily, calling the sanctions acts of “new gringo aggression". But, in reality, they will have little practical effect. The sanctions don’t directly affect Citgo, PdV’s US-based, 750,000 barrels a day (b/d) refining business, or prevent Venezuelan oil exports to the US. They do

Also in this section
Sisi keeps a lid on
16 March 2018
Egyptians face another four years of authoritarian rule
Egypt's gas strategy
16 March 2018
New natural gas coming on stream will boost the country's economy, in the short term
Tillerson ouster shakes up energy diplomacy
15 March 2018
American policy towards Iran and Venezuela will likely grow harsher, injecting more risk into energy markets