The US government has taken a tough stance against Venezuela by canceling a license that allowed an American oil company to operate in the country. This move will take away a major source of money for the government, which has been accused of using these funds to strengthen its security forces and repress its people.
The license, first granted in 2022, allowed an oil company to extract and sell Venezuelan crude. It was seen as a way to encourage the government to hold fair elections. However, US officials say the Venezuelan leadership has not followed through on its promises. As a result, the oil company now has one month to completely shut down its operations in the country.
Experts estimate that this license generated billions of dollars for the Venezuelan government. Without it, the country’s economic growth is expected to slow down. The loss of revenue may also worsen inflation and further weaken the national currency.
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The Venezuelan leadership has criticized the US decision, calling it harmful and unfair. Government officials claim the sanctions will hurt ordinary citizens and businesses in both countries. However, opposition leaders argue that the funds from oil sales were not benefiting the people. Instead, they say, the money was being used to strengthen security forces that crack down on political opponents.
Oil Money Used for Repression, Not Public Services
Opposition leaders inside Venezuela claim that the government has been using oil revenues to fund security forces that harass and intimidate citizens. These forces, they say, are well-equipped with the latest weapons, vehicles, and technology—funded directly by oil money.
The opposition argues that instead of investing in hospitals, schools, and other public services, the government has prioritized maintaining power through force. Reports suggest that top officials and military figures have been living in luxury, while ordinary Venezuelans struggle with high inflation and economic hardship.
The government has also increased its crackdown on opposition figures. Many politicians and activists have been forced into hiding, while others have fled the country. One prominent opposition figure recently revealed that even her elderly mother was being harassed by security forces.
The US, UK, and EU have already imposed sanctions on Venezuelan government officials, freezing their assets and restricting their travel. More names have been added to these lists in recent months. Some international leaders are now calling for a full investigation into the wealth of Venezuelan officials and the way government funds have been spent.
The US Moves to Pressure Venezuela’s Leadership
The decision to cancel the oil license is seen as a way to put pressure on Venezuela’s leadership. The US has been trying to push for fair elections in the country, but the government has continued to tighten its grip on power.
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The oil company had argued that pulling out of Venezuela would only strengthen the influence of other foreign powers, including China and Russia. However, US officials say that allowing the oil deal to continue was no longer justifiable.
In response, Venezuelan officials have accused the US of interfering in their country’s affairs. They argue that the sanctions will hurt not only their government but also the US economy. However, opposition leaders insist that the decision is necessary to prevent oil money from being used for repression.
The impact of this decision will be felt across Venezuela, as the country’s economy relies heavily on oil exports. With one of its biggest sources of foreign revenue now cut off, the government may struggle to maintain its financial stability.
Many analysts believe that this could be a turning point in Venezuela’s political landscape. While the government remains defiant, opposition figures see this as a major step toward holding leaders accountable for their actions.
