Pressure is building on the Biden administration to begin loosening sanctions on Venezuela. Its oil might help ease inflation pressures.

Venezuelan oil could be country’s ticket to lifting sanctions

Mar 10, 2022

Pressure has been building on the Biden administration to begin loosening sanctions on Venezuela after President Nicolas Maduro freed two American prisoners and promised to resume negotiations with his opponents. The U.S. engagement comes as Venezuela’s financial lifeline to Russia is fraying under sanctions on Moscow following its bombardment of Ukraine.

Venezuela has been under U.S. oil sanctions since 2019 and could reroute crude if those restrictions were lifted.

Countries under U.S. sanctions like Iran and Venezuela are seen as the most likely to benefit as President Joe Biden seeks to mitigate the impact from a ban on Russian oil imports that may aggravate the highest inflation in four decades.

Venezuelan oil might help ease inflation pressures in the medium term, even if it would take time for significant supplies to reach the U.S.

IN THE FIGHT FOR MORE ENERGY – THERE’S NO NATION OFF LIMITS

NOT EVEN U.S. SANCTIONED VENEZUELA

SANCTIONS THE BIDEN ADMINISTRATION MAY BE LOOKING TO END JUST 3 YEARS AFTER THE US SEVERED TIES WITH THE COMMUNIST REGIME

THE WHITE HOUSE IS LOOKING FOR WAYS TO KEEP THOSE SKY HIGH GAS PRICES DOWN AS THE RUSSIA-UKRAINE CONFLICT ESCALATES

SO THEY’RE CONSIDERING EASING THE SQUEEZE ON THE OPEC NATION SO THEY CAN SEND OVER MORE OIL

THOSE SANCTIONS WERE INITIALLY PUT IN PLACE OVER CORRUPTION AND HUMAN RIGHTS ABUSES – AND IT HIT THE COUNTRY HARD – MILLIONS PUSHED INTO POVERTY – FORCING MANY TO MIGRATE

U.S. SANCTIONS SPECIFICALLY TARGETED CRUDE OIL WHICH AT THE TIME ACCOUNTED FOR 95% OF THE COUNTRY’S EXPORT REVENUE.

YEAH, THEY PRODUCE A NICE AMOUNT OF OIL WE COULD BENEFIT FROM BUT THIS REPUBLICAN SAYS:

“Why on earth would we trade one oil rich dictator for another”

AND SOME DEMOCRATS AGREE:

“We shouldn’t be advancing other countries that don’t share our values.

VENEZUELA IS JUST ONE COUNTRY ON THIS LIST. FIND OUT WHICH KING THE U.S. MAY SEEK HELP FROM IN OUR NEXT VIDEO