US Blockade strikes Venezuelan Oil Industry

Caracas, Sep 10 (Prensa Latina) The coercive and unilateral sanctions imposed by the United States is today affecting Venezuela’s oil industry, according to journalist and researcher Werther Sandoval.

According to official sources, the shipping companies that own oil tankers are demanding up to $12 million for shipping the Venezuelan crude to other nations, a figure that accounts for three times what Petróleos de Venezuela SA (PDVSA) paid before the upsurge of the US blockade.

Only Chinese and Russian ship-owners respond to the commitments with the Bolivarian Government, the others capitalize on the current situation to call for higher prices for oil shipping, Sandoval said in an article published by the Venezuelan News Agency (AVN).

Similarly, the executive order signed by the US president Donald Trump, which prevents foreign businessmen and companies from making financial transactions with Venezuela, prevents any operation from being paid, charged or executed.

Official statistics report that the US blockade has generated losses to Venezuela for more than $200 billion since 2015. In addition, $5,4 billion are frozen in international banks, and only in seven of them have more than $1,9 billion.

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