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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Twenty former US officials urged the Biden administration to reimpose sanctions on Venezuela if Maduro reneges on democratic promises by the April 18 deadline, Platts said.
- "We believe that capitulating to the regime's arbitrary ban on the candidacy of the opposition's singular standard-bearer, Maria Corina Machado, would deal a fatal setback to democratic prospects in Venezuela," the letter writes.
- Machado has been disqualified from running in the July 28 election and her initial replacement, Corina Yoris, was also blocked.
- Democratic elections were agreed in the sanction’s relief package - Barbados agreement -in November.
- However, US officials are considering alternatives such as forcing oil sales in local currency.
- US officials are wary of risking an increase in economic migrants from Venezuela or raising gasoline prices in an election year.
- Should sanctions be reimposed, Venezuela would likely revert to receiving supplies from Iran and selling discounted barrels to China.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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