Threat of new sanctions and Trump’s trade war hit Venezuela’s economy to the full

The immediate prospect of the tightening of U.S. sanctions already has repercussions on the exchange market in Venezuela and threatens the punished economy of the South American country. The so-called parallel dollar, used outside the formal circuits to acquire certain types of imported goods, has climbed to 100 bolívars, losing 30% of its value in a matter of days. The official rate is located in the 68 bolívars and the differential between the…

US President Donald Trump's decision to impose 25% tariffs on countries that buy crude oil from Caracas and the end of the license to the US company Chevron compromise the heart of Venezuela's economy, sector experts told EFE, warning of a new adverse scenario for the Caribbean country. Just over a month after returning to power, Trump reversed the relief granted by his predecessor, Joe Biden, to the sanctions that the Republican imposed during …

The withdrawal of the license to the oil company Chevron and the imposition of tariffs on the countries that buy Venezuelan crude will wreak havoc on the economy