georgephillip
Diamond Member
- Dec 27, 2009
- 43,788
- 5,228
Except the power of the US dollar.Nothing is stopping it from selling its oil to other countries or from borrowing money from private banks aside from its own stupid decisions.
Explainer: U.S. sanctions and Venezuela's trade and oil industry partners
"The January sanctions prevented U.S. companies from dealing with PDVSA, and a clause that became effective in April blocked PDVSA from operating in the U.S. financial system.
"The asset freeze announced in early August threatens sanctions against any company deemed by Washington to be 'materially assisting' Venezuela’s government.
"While the January sanctions included similar language, U.S. national security adviser John Bolton last week said the new round gave companies a choice between doing business with Maduro or the United States.
"That has spooked PDVSA’s joint venture partners and customers, who are seeking clarity on the measure, sources said."