Five years later, the Biden administration is proposing to lift all sanctions in return for the USA and its western allies being given access to Venezuela´s vast oil reserves .
Without doubt, this U-turn follows the decision of Saudi-Arabia and other major oil producers which constitute OPEC to drastically reduce production and charge higher prices to the Western “free world”. It is also a thinly disguised political reaction to the leaders of the EU deciding to support the Biden move to cap Russian oil prices in order to maintain and eventually cut the prices of energy ; and an indication of the worsening US relations with the Arabic nations who have moved diplomatically towards friendlier relations with China, Russia and the Far East.
Essentially, the US has nowhere else to go . The question now is if the dictator Maduro will acquiesce in full or in part to Biden´s wishes despite having been the subject of degradation and humiliation during the past five years. If he refuses, he could face economic warfare by other South American states which are in hock to the US Empire. But Maduro is a canny authoritarian and would probably choose to receive the US and its allies – at a price.
The globalisation of National Imperialism and the desire of autocratic leaders for power continues without due consideration for the more urgent humanitarian necessity of phasing out our dependence on energy derived from fossil fuels.
by email, Roberto Cavaleiro, Tomar