Bang. Socialistic Venezuela has been given the big “S” as in SANCTIONS!
New sanctions have been slapped on the country Friday afternoon in order to keep their horrendous government out of U.S. financial markets.
The new sanctions ban Americans from “participating in [President Nicolás] Maduro’s liquidation of the Venezuelan economy,” said a senior administration official.
The sanctions cover an array of financial activities, banning Americans from acquiring new Venezuelan debt and Maduro’s government from receiving profits from U.S.-based companies.
The new sanctions will block CITGO, an American oil company with more than $32 billion in yearly revenue, from sending profits to its corporate owner, state-owned Venezuelan oil company Petróleos de Venezuela.
But the sanctions avoided blocking secondary markets from trading Venezuelan securities and carved out licenses for U.S.-owned Venezuelan debt.
Treasury Secretary Steven Mnuchin said, “There will be a general license that carves out specific debt owned by U.S. entities.”
National Security Adviser H.R. McMaster said that there is no anticipated military action in the near future. He said, “This order demonstrates more clearly than ever that the United States will not allow an illegitimate dictatorship to take hold at the expense of its people,” he continued, “Through the president’s strong action the United States will target the means which the dictatorship to enrich the corrupt regime insiders and perpetuate this repressive behavior.”
Many people, aka the left, are upset with the sanctions. They feel like we are turning our backs on Venezuela. It’s really not that at all though. They have caused their own destruction and downfall. Yet their government continues to run it as a socialist nation.
It is not America’s responsibility to “fix” what they destroyed, only to watch them destroy it again. Their leaders are selfish, greedy dogs.
As Mnuchin said, “We view that this will have a significant impact and in no way will they hurt the American economy and financial markets.”
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