U.S. Sanctions Battering Venezuela's Oil Economy

Carlos Garcia Rawlins. Reuters

Business Insider: The lifeblood of Venezuela's economy is taking a beating in the wake of Trump's sanctions

* Oil shipments from Venezuela have reportedly fallen by more than a third over the past month.
* That's after the Trump administration imposed sanctions on the country's state-run oil industry.
* The sanctions were rolled out in an attempt to cripple the government of President Nicolas Maduro, who is facing global pressure to cede power to opposition leader Juan Guaidó.

Venezuela's oil shipments have reportedly fallen sharply since the US hit the country with energy sanctions.

Reuters reported Thursday that oil shipments from the country dropped 40% to 920,000 barrels per day over the past month.

The Trump administration said in January it would impose economic penalties against PDVSA in an attempt to cripple the government of President Nicolas Maduro, who is facing global pressure to cede power to opposition leader Juan Guaidó.

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WNU Editor: This is only going to get worse.

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