Venezuela’s political showdown moves to a U.N. Security Council meeting

[TheWorldNewsOrg]

EXCLUSIVE

Germany’s Foreign Minister Heiko Maas tells DW that Germany’s position on Venezuela is “not neutral.”

“We are on (Juan) Guaido’s side,” Maas said. pic.twitter.com/0zzfjPCa3f

— DW News (@dwnews) January 25, 2019

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[TheWorldNewsOrg]

At least 14 in Venezuela were killed in violent clashes with security forces, according to a Venezuelan human rights group https://t.co/MF8P9IX10H pic.twitter.com/SMv7k3O8Rp

— CBS Evening News (@CBSEveningNews) January 25, 2019

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[TheWorldNewsOrg]

Maduro’s embattled regime was stymied in its bid to pull $1.2 billion worth of gold out of the Bank of England, sources say https://t.co/Ip21SPlyML

— Bloomberg Politics (@bpolitics) January 25, 2019

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[TheWorldNewsOrg]

Venezuela’s political showdown moves to the U.N. where a Security Council meeting called by the U.S. will pit backers of Maduro against the Trump administration and supporters of Guaido. https://t.co/RzyLviaPok

— The Associated Press (@AP) January 26, 2019

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Following his remarks this morning at a @UN Security Council meeting on #Venezuela, @SecPompeo spoke to the media. #EstamosUnidosVE pic.twitter.com/er3jNpgsLD

— Department of State (@StateDept) January 26, 2019

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[TheWorldNewsOrg]

DEVELOPING: Russia fails in its bid to stop UN Security Council meeting on Venezuela pic.twitter.com/jY3VExO2wo

— TRT World Now (@TRTWorldNow) January 26, 2019

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China opposes foreign interference in #Venezuela’s affairs, says China’s ambassador to UN at Security Council emergency meeting https://t.co/hxGYYS3shp pic.twitter.com/NR7Ap4cLSZ

— China Xinhua News (@XHNews) January 26, 2019

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Venezuela: “We must try to help bring about a political solution that will allow the country’s citizens to enjoy peace, prosperity & all their human rights.“ -@UNDPPA chief Rosemary DiCarlo tells Security Council. https://t.co/0iApRRvNir

— United Nations (@UN) January 26, 2019

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Spoke today with Venezuelan Interim President Juan Guaido to congratulate him on his historic assumption of the presidency and reinforced strong United States support for Venezuela’s fight to regain its democracy….

— Donald J. Trump (@realDonaldTrump) January 30, 2019

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BREAKING: Spain, France, Sweden recognize Venezuelan opposition leader Juan Guaido as nation’s interim president.

— The Associated Press (@AP) February 4, 2019

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You know about the ongoing power struggle between Venezuela’s opposition leader Juan Guaidó and sitting (though widely unrecognized) President Nicolás Maduro...

We also told you about the sanctions the U.S. placed on Venezuela’s state-owned PDVSA oil giant, aimed at cutting off $11 billion in exports from Maduro’s camp this year.

And now...

Venezuela’s oil industry has gone to pieces

Crude production is at a seven-decade low, and exports are at a 10-month low. That’s rough news for a country that ranked among the world’s top five oil exporters as recently as the late 90s.

Talent is leaving. Per the AP, “From the tar sands of northern Canada to the deserts of Kuwait, Venezuelan roughnecks now live in more than 90 oil-producing countries.”

And it’s been happening for a while. At least 30,000 oil workers have fled since the early 2000s, when then-President Hugo Chávez fired tons of them for going on strike and knocking output. But the most recent sanctions on PDVSA paired with political chaos have exacerbated the oil industry’s issues.

Now, there’s “desperation and chaos” at PDVSA

Bloomberg reported employees are working round the clock to find new markets to sell its crude, even contacting ex-employees to ask for trader info.

• Last year, Venezuela loaded a vessel a day to U.S. refiners. Since sanctions hit Jan. 28, only one (1) vessel has been loaded.

Bottom line: Oil’s been the backbone of Venezuela’s economy, so sanctioning PDVSA represents a calculated move by the U.S. to cut off funds from Maduro’s government. But if the country’s top brass isn’t swayed by the effects of the sanctions, those very sanctions could send the country even further into disaster.

via Morning Brew