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Squeezing Venezuela’s Oil Hasn’t Worked, Smaller, More Targeted Sanctions Are Better

In an interview with “PBS News Hour” that aired Friday, White House National Security Adviser Jake Sullivan said the squeeze on Venezuela's oil sector is not working and that more targeted sanctions and bad actors He argued that a reward for information leading to an arrest was “the best way forward.” We will apply pressure and seek to create the conditions for positive change in Venezuela. ”

“Despite the fact that he lost the election, today marks the third inauguration of President Nicolás Maduro in Venezuela,” said NewsHour foreign affairs and defense correspondent Nick Shiffrin. Announces new sanctions and visa restrictions, It has announced an increased reward for information leading to Mr. Duro's arrest or conviction, as well as licenses allowing Chevron and other energy companies that provide large sums of money to the Venezuelan regime to operate in Venezuela. Why not cancel it?”

Professor Sullivan replied: “What we're trying to do is take an approach that focuses on the bad actors, the individuals who are responsible for acts of brutality, repression and misrepresentation, such as last year's presidential election. These forms of sanctions , targeted sanctions, and incentives are the best way to apply pressure and create the conditions for positive change in Venezuela.”

Shiffrin added: “But if the goal is to exert pressure, arguably the best pressure would be to cut off Mr. Maduro's main source of income.”

Sullivan said, “Going back through multiple administrations, we have squeezed Venezuela economically, including in the oil sector. That didn't work under President Trump. The sanctions did not have the intended effect.”

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