The United States has slapped Venezuela’s state-owned oil firm PDVSA with sanctions, cutting off one of the last revenue sources for the failing state. And the Trump administration might not stop there. National Security Adviser John Bolton claims that Trump is open to sending troops to Venezuela.
Treasury Secretary Steven Mnuchin claims that PDVSA is an embezzlement vehicle for embattled Venezuelan President Nicolás Maduro. The sanctions will result in $7 billion in lost assets and could cost the country as much as $11 billion through the year. For a country that needs to stretch every penny, the lost revenue could create a lot of pain.
As well, Americans might see higher prices at the pumps. The United States is Venezuela’s biggest customer as far as oil is concerned. For Maduro, the tightening screws might be enough to destabilize his already unstable regime. He’s remained in power by keeping the army paid and supplied, but as revenues dry up, he may not have the cash to pay them.
Even if Maduro is able to soldier on through the sanctions, National Security Adviser John Bolton has made it clear that the United States is evaluating other measures. Bolton claims that all options, including military intervention, are still on the table.
Bolton created a stir when onlookers spied his notes at a recent press meeting. On a note pad, Bolton jotted down “5,000 troops to Colombia.. Located right next to Venezuela, troops in Colombia would make it easy for the United States to launch an invasion.
However, Trump has frequently lambasted keeping troops in Afghanistan and Syria, so the president may not be looking to rush into another conflict. On the other hand, Trump has made it clear that he wants Maduro gone. The Department of Defense has made it clear that there are no imminent plans for deployment, but the White House has claimed that they are considering an intervention.
