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US Sanctions on Venezuela’s PDVSA Would Wipe Out its Oil Revenues, Accelerate Default

August 3rd, 2017
Categories: News

Link: http://govtslaves.info/us-sanctions-venezuelas-pdvsa-wipe-oil-revenues-accelerate-default/

Although the US government has not yet made the final decision to apply sanctions against state oil company Petróleos de Venezuela (PDVSA), the potential consequences for the troubled South American petro-state would be enormous. PDVSA produces and ships about 2.6 million barrels of oil a day, of which it sells to the United States about 780,000 barrels.Suspending the import of Venezuelan oil by the United States, would cause Venezuela to lose one of its largest trading partners and the only country that pays cash for the product.

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