Will Biden lift sanctions on Venezuelan oil?
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.
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