As reported last week in the Trends Journal, self-proclaimed Venezuelan president Juan Guaidó, after being applauded by the U.S. congress as an honored guest of President Trump at his State of the Union Address, returned to Venezuela to face condemnation as a traitor by angry citizens when he landed at the Caracas airport.
Among the crowd were employees of Venezuela’s state-run airline, Conviasa, which, just days earlier, was sanctioned by the United States… which has launched economic warfare against the ruling government it wants overthrow.
After winning the presidential election in May 2018, which was monitored by international observers, on 10 January 2019, Nicolás Maduro was sworn in. A few days later, with the support of the Trump administration, Juan Guaidó anointed himself official president of Venezuela.
But Guaidó’s failed attempt to win over the country’s military, along with diminished backing from its citizens, has left him without strong internal support.
Also covered in the Trends Journal has been Washington’s increasing sanctions, which have crippled Venezuela’s economy and helped cause a humanitarian crisis, with millions struggling for enough food and water and basic living necessities.
And, last week, seeking to put more economic pressure Maduro, the Trump administration – with the intention of inciting hostility among the people to help overthrow the ruling government – imposed sanctions on Rosneft Trading S.A., a Geneva-based subsidiary of the Russian state-owned oil company.
Oil comprises 95 percent of Venezuela’s exports and 25 percent of its gross domestic product, and Rosneft ships more than half of all oil exported from Venezuela.
U.S. Secretary of State Mike Pompeo tweeted: “Today we sanctioned Russian-owned oil firm Rosneft Trading S.A., cutting off Maduro’s main lifeline to evade our sanctions on the Venezuelan oil sector. Those who prop up the corrupt regime and enable its repression of the Venezuelan people will be held accountable.”
Rosneft responded, stating, “The work [with Venezuela] consists solely in ensuring that previously made payments are repaid… Repayments from Venezuela are working fully according to schedule and we will not disclose any more details.”
The repayments are loans the company made to Venezuela’s state-owned oil company, which are being repaid in oil deliveries. Rosneft also noted that the sanctions were selective, as they’re not being levied on U.S. oil companies doing business in Venezuela.
TREND TRACKING LESSON: As written in the Financial Times: “The scale of the exodus has far exceeded initial expectations, propelled by President Nicolás Maduro’s mismanaged socialist revolution which has seen the oil-based economy collapse into hyperinflation.”
“Mismanaged socialist revolution?” Left unmentioned is that America has launched economic terrorism, choking off Venezuela’s main export and bankrupting the country in hopes the people will launch a revolt to remove its president… who won an internationally-monitored election.
Also absent media coverage is the UN High Commissioner for Human Rights report that financial and oil sanctions imposed by the U.S. against the Venezuelan government are “exacerbating further the effects of the economic crisis and the humanitarian situation.”
