Venezuela Assesses Damage of U.S. Sanctions on PDVSA

Caracas, May 25 (Prensa Latina) The Venezuelan government said Wednesday it is assessing the impact of announced U.S. sanctions against PDVSA, the state oil company, to then adopt actions guaranteeing its national sovereignty. Energy and Oil Minister Rafael Ramirez rejected Washington’s measures to punish countries that maintain relations with Iran, called them unilateral, and announced studies have begun to determine their repercussion on the energy sector.

“We will assess the effects on our productive capacity after the announced sanctions, whose scope not even they understand,” he told journalists at a press conference.

“We will keep delivering oil to our affiliates in the United States, Citgo and Hovensa, but if PDVSA production capacity is affected by these unilateral measures, we would reconsider supplying pur clients there,” the minister warned.

Along with that scenario, Caracas would contemplate other actions, Ramirez said.

“We will not accept sanctions, because we are a sovereign country,” he said.

Ramirez also called upon workers and the people in general to stay alert to defend PDVSA, which is an expression of Venezuela’s control over its natural resources.

According to official estimates, Venezuela is the world’s leading country in certified oil reserves, estimated at nearly 300 billion barrels.

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