Tuesday, February 20, 2024

Logo Central America Link

Washington goes for the jugular between Caracas and Managua

Tuesday, January 29, 2019

The very close oil industry relationship between Venezuela and Nicaragua has been directly attacked by sanctions that Washington has imposed on the Caracas government.

The sanctions included a freeze on $7 billion of the assets in the United States of the Venezuelan state oil company, Pdvsa.

In addition, US companies that maintain relations with Pdvsa have until March 29 to close such operations. In the case of Albanisa, a joint venture between majority owned Pdvsa and Nicaragua's state company has to close operations immediately.