03:00 GMT01 June 2020
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    Political Crisis in Venezuela (579)

    Washington is continuing to impose crippling sanctions targeting Venezuela’s oil sector. According to UN Special Rapporteur Idriss Jazairy, US sanctions have exacerbated the country’s acute economic crisis and could lead to starvation and medical shortages.

    The US Treasury Department announced Friday that it had issued a new batch of anti-Venezuelan sanctions, targeting four companies and nine ships.

    The sanctions targeted three companies in Liberia — Jennifer Navigation Limited, Large Range Limited and Lima Shipping Corporation — and a fourth firm in Italy, PBS Tankers. Nine ships linked to the four firms were also included in the new designations, the Treasury said.

    READ MORE: IMF to Block $400 Million Worth of Venezuelan Funds Until ‘Gov't Recognition'

    Meanwhile, the total damages from sanctions against Venezuela have already exceeded $100 billion, according to reports.

    The Trump administration imposed several rounds of sanctions against Venezuela after US-backed opposition leader Juan Guaido illegally declared himself interim president in late January. In addition, after immediately recognising Guaido, Washington seized billions of dollars’ worth of Venezuelan oil assets.

    Political Crisis in Venezuela (579)


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    sanctions, US Department of Treasury, United States, Venezuela
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