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Venezuela bondholders inch toward showdown

Tuesday, June 6, 2017

Michael Rowan: Washington’s Sanctions on Venezuela

The solution for the U.S. appears to be getting other nations to sanction Venezuelan officials, and not Venezuelan institutions, but only a fraction of the $300 billion missing is likely to be found easily through sanctions of individuals when it’s been hidden by conspiring institutions. This story gets worse: The U.S. is providing almost all the dollar income Venezuela receives through PDVSA oil and bond sales. The military regime would collapse without the daily infusion of dollars from America. How could the U.S. not know that?  Somehow, the U.S. sees no contradictions between supporting the Venezuelan regime through buying its oil, claiming the regime is committing atrocities, sanctioning individuals but not institutions for those atrocities, and then wondering why its measly $10 million in humanitarian assistance is not reaching millions of hungry innocent people. We live in a time when truth doesn’t seem to matter, in the U.S. or Venezuela.  More…

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