U.S. Petroleum Trade with Venezuela: Financial and Economic Considerations Associated with Possible Sanctions [July 27, 2017] [open pdf - 222KB]
"The political crisis in Venezuela is at a pivotal point 'See CRS Report R44841, Venezuela: Background and U.S. Policy.' President Nicolas Maduro is convening elections on July 30 for delegates to a constituent assembly to rewrite the country's constitution and possibly dismantle the legislative branch. On July 17, 2017, President Donald Trump issued a statement that declared that 'the United States will take strong and swift economic actions' if the assembly elections occur. Those actions reportedly could include sanctions on Venezuela's energy sector, which generates 95% of its export earnings. While there are humanitarian and political risks of implementing sanctions on Venezuela, this insight explores economic considerations of potential petroleum sector sanctions."
CRS Insight, IN10741
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html