Venezuela

European Union May Increase Sanctions on Venezuela

In a recent declaration, the European Union announced that it would take “appropriate measures” to support “peaceful and democratic solutions” in Venezuela. Such measures could possibly include additional sanctions on the regime of President Nicolás Maduro.

Venezuela Oil Production Falls Again in March

Venezuela oil production fell last month as global oil prices continue to rise, according to OPEC’s April report. Other nations in the region like Brazil and Guyana are taking advantage of higher energy prices by investing in new offshore production.

Maduro to Re-Denominate the Bolívar Fuerte

Venezuela will re-denominate the bolívar this summer by removing three zeros from its highly devalued currency. Hyperinflation in Venezuela has exacerbated one of the most severe economic crisis in the history of the Americas. President Nicolás Maduro announced last week that the… Read More ›

Rosneft Claims Venezuela Pays Its Debts

Rosneft, a Russian state-controlled oil company, says that Venezuela is repaying its debt on schedule. Rosneft is a major investor in the Venezuelan energy sector and the state-owned oil company, PDVSA, and the Russian government has been integral in propping up the… Read More ›