What’s the Deal with Sanctions in Venezuela, and Why’s It So Hard for Media to Understand?Last week, the US formally adopted sanctions on Venezuelan national oil company PDVSA, as well as on CITGO, its US-based distribution arm, as part of its press for regime change in Caracas. National Security Advisor John Bolton estimated the actions would affect some $7 billion in assets and would block $11 billion in revenue to the Venezuelan government over the next year. The State Department was quick to add,
“These new sanctions do not target the innocent people of Venezuela…”
But of course they do. The Wall Street Journal reported:
The sanctions could create deeper gasoline shortages in Venezuela. The country’s refineries are already operating at a fraction of their capacity, crippled by a lack of spare parts and crude. Venezuela only produced a third of the 190,000 barrels of gasoline it consumed a day as of November, according to Ivan Freites, a leader of the country’s oil union.
“Immediately, it’s going to hurt the average Venezuelan,” Mr. Freites said.
Meanwhile, The New York Times noted:
But just across the street, a group of senior citizens waiting in line to collect their pensions worried that the Trump administration’s actions would further bankrupt their country and deepen the humanitarian crisis that has left so many starving, sick and without basic services.
“The United States has no business meddling in this,” said Aura Ramos, 59, a retiree who can barely afford blood pressure medicine. “It’s the regular people who will be affected.”
The Washington Office on Latin America released a statement criticizing the announced sanctions, writing:
However, we are deeply concerned at the potential for the recently announced U.S. sanctions to intensify the severe hardships and suffering tha....
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