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TWP: Biden will try to “punish” Maduro by preventing him from getting dollars for oil

TWP: Biden will try to “punish” Maduro by preventing him from getting dollars for oil

US President Joe Biden's administration is considering “new ways” to curb Venezuela's oil sales.

Published as The Washington PostUS officials will look for a way to “punish” the Venezuelan government if it does not comply with the accords reached with opposition representatives last year.

The U.S. Treasury Department will evaluate the possibility of Venezuela continuing to sell oil to its international customers, but not receiving dollars as a form of payment.

With this in mind, one of the options available to the Caribbean country is to receive bolivars, which will be deposited in the Central Bank of Venezuela (BCV).

Another possibility is oil exchange contracts for oil, fuel or diesel.

A representative of the oil-related business sector, who wished to remain anonymous, told the international media agency that reimposing sanctions on Venezuela would benefit China, Russia and Iran.

“US consumers are forced to pay for the country's poor foreign policy while China buys discounted oil,” he highlighted.

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