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Venezuelanalysis Profile picture
@venanalysis
Aug 27, 2021 • 8 tweets • 3 min read • Read on X
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What happens when you sanction a country's main industry and source of foreign income? Say, Venezuela’s oil sector.

An entire population is punished and thousands die, that's what happens. We break down the US oil sanctions in this brand-new infographic. 🧵👇
In 2017, the US levied financial sanctions against PDVSA, followed by an oil embargo in 2019.

While Venezuela's crisis began in 2014 with the global drop in oil prices, economists argue that the level of suffering Venezuelans experience today is primarily due to sanctions.👇
In 2019, Washington seized the CITGO refinery, Venezuela's most important asset abroad.

The Trump administration also imposed a blanket ban on all dealings with Caracas and a diluent ban further crippled the country’s oil output and fuel production. 👇
2020 began with the US levying secondary sanctions to close off Venezuela's remaining oil-exporting lifelines.

Two subsidiaries from Russia’s energy giant Rosneft + other shippers were targeted for carrying Venezuelan crude. 👇
Washington likewise targeted oil-for-food swaps. In case it wasn't clear before, starving the population was always a key part of the regime-change plan.

By the last quarter of 2020, threats were a common occurrence to deter multinationals from dealing with Venezuela. 👇
The former Trump administration finished 2020 by putting an end to crude-for-diesel swaps and sanctioning more companies that dared to make oil transactions with Venezuela.

Acute fuel shortages quickly gripped the country. This continues today 👇
The result of US sanctions against Venezuela's oil industry:

PDVSA’s output fell from an average of 1.911 million barrels per day (bpd) in 2017 to 500,000 in 2020.

Oil output has recovered after hitting historic lows registering 537,000 bpd in June (OPEC source). 👇
Once more, our deepest appreciation goes out to @utopix_cc's Kael Abello for helping us document the murderous sanctions program against Venezuela with this amazing work.

You can download the infographic in one piece here:
venezuelanalysis.com/images/15301

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More from @venanalysis

Venezuelanalysis Profile picture
Apr 21
Neocolonial plundered. Following the January 3 strikes and kidnapping of President Maduro, the Trump administration has moved in to impose control over Venezuelan resources, w/ Western conglomerates moving in under favorable conditions. Follow our thread/infographic Image
In recent weeks, the Venezuelan govt + National Assembly have fast-tracked reforms to attract foreign investment.Pro-business overhauls to hydrocarbon and mining laws slashed fiscal responsibilities, expanded concessions and removed the leading state role established under Chávez Image
Private corporations can now take over operations and sales, even if they are minority partners in joint ventures. The reforms, which followed years of devastating US economic sanctions, also established the possibility of taking disputes to international arbitration Image
Read 10 tweets
Venezuelanalysis Profile picture
Apr 9
Venezuelan Acting President Delcy Rodríguez gave a televised address earlier with some significant announcements on upcoming reforms. We'll have a report soon, and follow-up content once those reforms are in motion, but here's the gist of it (thread) Image
The most important announcement was an upcoming reform to the country's Labor Law. Approved in 2012, this is an absolute pillar of Chávez's legacy. But the private sector has upped complaints that present labor rights are too onerous and more flexibility is in order
As an aside, the Venezuelan gov't in recent years, under sanctions, has prioritized non-wage bonuses and kept wages frozen and devalued to almost nothing. In her speech, Rodríguez criticized past wage increases that were "irresponsible" and caused inflation. She announced an increase for May Day but it's likely to be bonuses, not salaries
Read 7 tweets
Venezuelanalysis Profile picture
Jan 24
The Venezuelan National Assembly approved a reform to the country’s Hydrocarbon Law in its first discussion. A second discussion and final vote are expected soon. This is arguably the country’s most important piece of legislation, so let’s look at what’s at stake 🧵🧵🧵 Image
Some background: Venezuela’s present energy legislation was established under the Hugo Chávez govts. It was first approved in 2001 and later had some amendments. In essence, it reaffirmed the state’s sovereignty over natural resources and established control over the oil industry Image
Chávez’s reforms mandate that state oil company PDVSA hold majority stakes (in some cases at least 60%) and run oilfield operations. Taxes on oil profits were set 50%, royalties were raised (in some cases from 1%) to 30% across the board Image
Read 17 tweets
Venezuelanalysis Profile picture
Jan 20
The bar is always high (or low, rather), but every now and then the New York Times delivers an all-time masterpiece of journalistic dishonesty and pliant service to US imperialism. This is a piece about (imaginary ties) between Hezbollah and Venezuela: 🧵 archive.is/FPrMQImage
First off, the US kidnapped/abducted Maduro. But US exceptionalism runs so deep that corporate stenographers believe Washington can just "seize" foreign leaders. But the relevant part here is that all we have here are claims by Rubio and US officials Image
Image
This section is just empty fluff meant to malign Iran and Venezuela. Notice the nonsense of saying the countries are "bound by anti-American ideology" like it's some kind of bad taste in music, as opposed to the result of decades of imperialist attacks Image
Read 10 tweets
Venezuelanalysis Profile picture
Jan 27, 2025
A controversial afternoon (on Twitter) after the orangeman-in-chief lashed out at Colombia after the Petro government refused to accept repatriation flights with shackled migrants in military airplanes. Trump threatened tariffs and sanctions, Petro replied defiantly
Trump's disgusting (even by his standards) xenophobic and imperialist antics barely a week into his term have drawn fierce rebukes across the hemisphere. Honduran President Xiomara Castro called for an extraordinary summit in a few days

Venezuelan President Nicolás Maduro also voice his support, telling his Colombian counterpart he can count on the "strength and experience" of the Venezuelan people and calling for further regional unity Image
Read 4 tweets
Venezuelanalysis Profile picture
Jul 23, 2024
🧵When it comes to reporting about Venezuela, there is no corporate outlet even remotely close to the level of dishonesty of the New York Times. Seriously, it's one piece of misrepresented bullsh*t after another. Follow this thread as we break it down Image
This is the piece:

The article is not to be taken seriously b/c it starts from a blatant lie. US "prodding" has nothing to do with Venezuela holding elections. It is dictated by the Constitution that they be held this year and they were never in doubt shorturl.at/LFusR
Image
Anyone not high on Western exceptionalism would actually be ashamed of their government meddling in other countries' affairs. But alas, this is the NYT.

In corporate media spiel, "restoring democracy" just means a US puppet being back in the presidential palace Image
Read 13 tweets

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