1、 https:/crsreports.congress.gov March 27, 2018Venezuelas Petroleum Sector and U.S. SanctionsIn response to the ongoing political and economic crisis in Venezuela, the United States has imposed targeted sanctions on certain Venezuelan individuals as well as broader financial sanctions on the Venezuel
2、an government and the state-owned oil company Petroleos de Venezuela, S.A. (PdVSA). On February 4, 2018, then-Secretary of State Rex Tillerson remarked that the Administration is considering sanction options that may limit U.S. petroleum trade with Venezuela. As Tillerson acknowledged, a challenge w
3、ith such sanctions is balancing the desired effects on the Maduro government with potential negative effects on the Venezuelan people, U.S. consumers, and U.S. business interests. The following discussion examines Venezuelas oil production, U.S.-Venezuela petroleum trade, and the potential effect of
4、 various types of petroleum sanctions on the Venezuelan and U.S. oil sectors. Venezuela Crude Oil Production Production and export of crude oil is a critically important element of the Venezuelan economy. According to the Organization of the Petroleum Exporting Countries, the oil and gas sector repr
