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Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Latin America’s most reviled heads of state has not only outmaneuvered his domestic opponents but beaten U.S. sanctions designed to remove him from power. By December 2020, Maduro had taken control of Venezuela’s National Assembly, the only major state institution not controlled by the government and United Socialist Party of Venezuela (PSUV). In last year’s election, which was boycotted by most opposition candidates including Juan Guaidó, Maduro’s party won 256 out of the 277 seats available in the legislative body. This not only consolidated Maduros’ power over the crisis-ravaged Latin American nation but demonstrated that harsh U.S. sanctions are failing to remove him from power. Taking control of the National Assembly was particularly important for Maduro because the legislative
How U.S. Sanctions Against Venezuela Backfired Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduro’s grip on power in Venezuela. It appears that one of Latin America’s most reviled heads of state has not only outmaneuvered his domestic opponents but beaten U.S. sanctions designed to remove him from power. By December 2020, Maduro had taken control of Venezuela’s National Assembly, the only major state institution not controlled by the government and United Socialist Party of Venezuela (PSUV). In last year’s election, which was boycotted by most opposition candidates including Juan Guaidó, Maduro’s party won 256 out of the 277 seats available in the legislative body.
DOW futures are higher this morning in an advance that would exceed the 30-stock average s closing record (SPY +0.4%). Bitcoin surges toward record levels above $43,000 after Tesla s disclosure.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in London leading the region. The FTSE 100 is up 1.12% while France s CAC 40 is up 0.90% and Germany s DAX is up 0.52%.
What Is Moving the Markets
Here are the headlines moving the markets.
How U.S. Sanctions Against Venezuela Backfired Harsh U.S. sanctions, a crumbling economy, and near collapsed petroleum industry have done little, if anything, to loosen President Maduros grip on power in Venezuela. It appears that one of Latin Americas most reviled heads of state has not only outmaneuvered his domestic opponents but beaten U.S. sanctions designed to remove him from power. By December 2020, Maduro had taken control of Venezuelas National Assembly, the only major state institu
February 5, 2021
President Nicolás Maduro seeks to rapidly boost Venezuelan oil production by one million barrels per day (bpd), threatening to ravage the ecologically sensitive Orinoco region. To achieve the increase, he would reverse Chávez’s oil reforms, which extended Venezuelan sovereignty over its natural resources and captured super-profits that would otherwise have flowed to transnational oil companies.
Chávez was an outspoken critic of capitalism and global warming, telling the Copenhagen summit on climate change in March 2013 that “climate change is undoubtedly the most devastating environmental problem of this century,” and that “current human activity exceeds the threshold of sustainability, endangering life on the planet.” In the same speech he warned that global inequality remained a major obstacle to achieving a sane and rapid reduction of greenhouse gas emissions, as globally “we are profoundly unequal.”