After 'Sham' Election, U.S. Sanctions Against Venezuela Are Likely
Authorities say 10 people were killed in clashes between protesters and law enforcement in Venezuela on Sunday. The nation's president, Nicolas Maduro, called elections to choose a constituent assembly, which would have the power to rewrite the constitution and more.
Many in Venezuela opposed and even boycotted the elections, which they saw as an attempt to consolidate Maduro's power. One in four Venezuelans are unemployed and there are shortages of everything from medicine to toilet paper.
Francisco J. Monaldi, fellow in Latin American Energy Policy at Rice University's Baker Institute for Public Policy, says it is likely that the United States will impose energy-related sanctions on Venezuela this week, beginning with a ban on exports of crude oil products. He says in addition to those sanctions, other moves by the U.S., including financial sanctions or a ban on oil imports from Venezuela, could have a massive impact on the South American country.
Written by Shelly Brisbin.