US Not Ruling Out Possibility of Venezuela Oil Embargo

US Ambassador to the United Nations Nikki Haley warned Thursday Washington hadn’t ruled out an oil embargo on Venezuela, among other possible measures.

By Ryan Mallett-Outtrim
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U.S. Ambassador to the U.N. Nikki Haley attends the daily briefing at the White House in Washington, U.S., September 15, 2017. (Reuters)
U.S. Ambassador to the U.N. Nikki Haley attends the daily briefing at the White House in Washington, U.S., September 15, 2017. (Reuters)

Puebla, Mexico, September 22, 2017 (venezuelanalysis.com) – US Ambassador to the United Nations Nikki Haley warned Thursday Washington hadn’t ruled out an oil embargo on Venezuela, among other possible measures.

“It’s not off the table, I can tell you that,” she said when asked if an oil embargo was possible.

“There’s a lot of support in Latin America to see Venezuela start to respect its people and go back to the democracy it’s supposed to be,” she told reporters. “If things don’t improve, all those options are always there,” she said.

An oil embargo could inflict deeper strain on Venezuela’s economy. Oil exports account for the single largest source of revenue for the Venezuelan government, and the US is the country’s largest trade partner. The Trump administration has already imposed financial sanctions on both the Venezuelan government and state oil firm PDVSA. Top officials in Caracas have complained the sanctions are already hurting ordinary Venezuelans.

“The sanctions that the United States have imposed are against Venezuelan families, and not against the government,” Economy Minister Ramon Lobo said last month.