Gulf States Senators Caution Administration Against Blocking Venezuelan Crude Imports
Four Republican senators cautioned President Donald Trump in an Aug. 10 letter against blocking Venezuelan crude oil imports, which the officials said could cede U.S. economic benefits to China and/or Russia. “Blockading imports could inflict great harm on this industry…
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and burden U.S. taxpayers with the cost,” wrote Sens. Bill Cassidy of Louisiana, John Cornyn of Texas, and Thad Cochran and Roger Wicker of Mississippi. “It is clear that there is a market outside of the U.S. to receive the Venezuelan oil. Without cooperation by the international community, including Russia and China, the U.S. energy industry and American citizens will bear the economic consequences of the sanctions.” The senators commended the Trump administration for targeted sanctions against the regime of Venezuelan President Nicolas Maduro (see 1708090045 and 1708080001), who has been widely accused of administering sham parliamentary elections to consolidate his power. Broad unilateral sanctions could drive the Maduro regime into “further disarray” and prompt Venezuela to shift some commerce with the U.S. to Russia and China, the senators wrote. “We urge a coordinated, multi-lateral approach that deprives the Maduro regime of all funding options, rather than simply closing the door to the United States’ market.”