After ‘Sham’ Election, US Sanctions Against Venezuela Are Likely

A ban on oil imports to the U.S. from the South American country would have a massive impact on Venezuela.

By Jill AmentJuly 31, 2017 12:53 pm,

Authorities say ten people were killed in clashes between protesters and law enforcement in Venezuela on Sunday. The nation’s president, Nicolas Maduro, called elections to choose a constituent assembly, which would have the power to rewrite the constitution, and more.

Many in Venezuela opposed and even boycotted the elections, which they saw as an attempt to consolidate Maduro’s power. One in four Venezuelans are unemployed and there are shortages of everything from medicine to toilet paper.

Maduro claimed victory, lashing out at President Donald Trump in the process. Nikki Haley, U.S. Ambassador to the United Nations, called the Venezuelan election a “sham.”

Francisco J. Monaldi, Fellow in Latin American Energy Policy at Rice University’s Baker Institute for Public Policy says it is likely that the United States will impose energy-related sanctions on Venezuela this week, beginning with a ban on exports of crude oil products from the U.S. to Venezuela. He says such sanctions will impact Venezuela, but that other sanctions the U.S. could impose, including financial sanctions or a ban on oil imports from Venezuela could have a massive impact on the South American country.


Written by Shelly Brisbin.