Will Biden lift sanctions on Venezuelan oil?

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By Matthew Smith

●             Venezuela’s vast oil reserves are
                estimated to exceed 300 billion
                barrels

●             While there is considerable
                opposition to Biden removing
                sanctions on Venezuela, recent
                developments point to a recali-
                bration being urgently required

●             Any attempts by the Biden
                administration to reconsider
                sanctions to allow foreign energy
                companies to drill in Venezuela
                may not garner the outcomes
                desired
The severe energy crisis which emerged after Russian President Vladimir Putin’s decision to invade Ukraine is causing energy prices to soar.