US 'Won't Offer Security Guarantees' While Maintaining Economic Strangulation on Venezuelan Oil
📰 THE STORY: Bloomberg Politics reports that US Energy Secretary Chris Wright stated the US will not offer security guarantees to oil companies operating in Venezuela. This comes as the Biden administration navigates its 'sanctions for democracy' policy, occasionally easing some restrictions but maintaining significant pressure. 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: The US has a
long history of intervention in Venezuela, notably backing a failed coup attempt against Hugo Chávez in 2002. More recently, the Trump and Biden administrations imposed crushing sanctions, including oil embargoes starting in 2019, ostensibly to pressure the Maduro government towards 'democracy.' These sanctions, documented by the UN and independent economists, have cost Venezuela billions and
fueled a humanitarian crisis, disproportionately affecting ordinary citizens. The US also recognized opposition figure Juan Guaidó as Venezuela's legitimate president from 2019 until early 2023, attempting to seize Venezuelan assets abroad, including its US-based oil company CITGO. Double Standard: The US frames its sanctions and 'security concerns' in Venezuela as upholding democracy, yet it
routinely offers explicit security guarantees and military aid to regimes with abysmal human rights records or undemocratic practices when it serves US interests. For example, Washington provides $1.3 billion annually in military aid to Egypt, a country where President Sisi's government has been widely criticized for suppressing dissent and human rights abuses, yet maintains critical control over