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In 2021, the US Government Accountability Office concluded that sanctions "likely contributed to Venezuela's economic decline". The report said that as a result of sanctions, Venezuela is selling less oil, at a higher cost and a lower price. [283] In 2023, Al Jazeera wrote that the sanctions had affected citizens.
He said the crypto-currency had been designed in February 2018 to "circumvent US sanctions" [169] and access international financing. [170] On 11 March 2019, the U.S. sanctioned the Russian bank Evrofinance Mosnarbank, a joint venture of Russian and Venezuelan state-owned companies. The U.S. Treasury Department said the Moscow-based bank was an ...
U.S. President Donald Trump - who during his first term used a "maximum pressure" sanctions policy against President Nicolas Maduro - referred to Maduro as a dictator during the 2024 U.S. campaign.
During the Spanish American wars of independence, the United States was officially neutral but permitted Spanish American agents to obtain weapons and supplies.With the reception of Manuel Torres in 1821, the Gran Colombia (present-day Panama, Colombia, Ecuador, northern Peru, Venezuela, western Guyana and northwest Brazil) became the first former Spanish colony recognized by the United States ...
Even as the U.S. unveiled new sanctions, it stopped short of withdrawing previous U.S. authorizations to U.S. oil giant Chevron and several other companies for Venezuela operations.
Additionally, the stiffening of sanctions doesn’t directly impact Chevron, the last major U.S. oil driller in Venezuela, which was allowed to boost shipments thanks to a license it was issued in ...
The United States Department of the Treasury placed sanctions affecting Venezuela's gold industry in March 2019, explaining that Maduro's government "is pillaging the wealth of Venezuela while imperiling indigenous people by encroaching on protected areas and causing deforestation and habitat loss". [97]
The sweeping sanctions on Venezuela's oil industry were first imposed by the Trump administration in 2019 following Maduro's re-election victory, which the U.S. and other Western governments rejected.