Daily Trends Now
Daily Trends Now


Tillerson Says US Weighing Sanctions On Venezuelan Oil Industry

Tillerson Says US Weighing Sanctions On Venezuelan Oil Industry

Tillerson said at a news conference in Buenos Aires.

Tillerson did not push back against the suggestion that sanctions on oil might also hurt U.S. companies that have built refineries in the southern United States geared to accept Venezuelan crude.

"Obviously sanctioning the oil, or in effect prohibiting the oil to be sold in the United States.is something we continue to consider", he told reporters on Sunday.

But Rex Tillerson wanted to find ways to soften the negative impact that sanctions would have on American oil companies, Venezuelans and other countries in the region that rely on Venezuelan oil.

Banning exports of oil or refined oil products to Venezuela was also on the table, Tillerson added.

"While this trade has brought benefits, the unfair trading practices used by many Chinese have also harmed those countries' manufacturing sectors, generating unemployment and lowering wages for workers", the US Secretary of State said.

Colombia's ambassador to Washington, Camilo Reyes, said ahead of the visit "as we continue to build a stable and lasting peace, we are grateful for the long-standing bilateral partnership and the bipartisan support of the United States".




As the US Secretary of State embarks upon his voyage across the region that the United States has long considered its own backyard since the implementation of the Monroe Doctrine in 1823, it's unclear exactly how receptive the countries he's about to visit will be to his message.

The Venezuelan government has announced that Maduro will be the presidential candidate for the upcoming elections. "If he wants to step aside and let someone else follow through on that, that's fine, but our view is you must return to the constitution, and that's what we hope Venezuela ultimately will do".

"And then, if he is not re-elected by the people, so be it", Tillerson said.

Maduro shot back, in a video on Facebook, saying that Tillerson "has just threatened us with an oil boycott". Analysts have noted that this is a way of bypassing USA sanctions and is similar to an ordinary bond.

Tillerson visited the Argentine Patagonia during his recent five-nation tour of Latin America and planned to ride horseback into the Nahuel Huapi national park, according to the Los Angeles Times.

In a prelude to the tour, the secretary of state made thinly veiled reference to USA support of a military coup in Venezuela to overturn the Maduro government at the University of Texas at Austin, last Thursday.

follow

editors' picks

February 05, 2018
Egypt unveils 4400-year-old tomb discovered near Giza pyramids
Egypt is facing serious tourism downfall but discoveries like this and more can gain tourism which will generate revenue. Al-Waziri believes there are other ancient artifacts waiting to be uncovered near the site.

February 04, 2018
Russian Federation says it killed 30 militants after warplane downed
The YPG controls much of the territory along the border and an uninterrupted strip from Manbij to the Iraqi border. A Russian warplane was shot down Saturday in Syria, according to Russian state-run news agencies.

February 02, 2018
US Stocks Fall For Second Consecutive Day
According to Bespoke Investment Group the S&P 500 could end its record streak without consecutive declines of 0.5 per cent. USA markets have suffered a second day of steep losses, as investors dumped health care companies and Apple .

February 02, 2018
Aubameyang Arsenal Debut in Doubt due to Illness - Wenger
I wanted to do more but I couldn't. "But overall I am happy with the way things went in the transfer market". Take a look through the gallery above to see how Arsenal could line up when they take on Everton .

February 01, 2018
Amazon's Alexa can now send SMS messages to any phone
Either way, the timing couldn't be better for Amazon given that Apple is releasing its rival smart speaker , the $349 HomePod , . When the text messages turn up for the recipient, a link will be included where they can tap and hear the spoken text message.

January 31, 2018
Ambassador candidate dropped over stark warning on North Korea
After condemning multiple dictatorships and oppressive regimes, Trump turned his attention to North Korea. The U.S. military is "beyond the training stage".

January 30, 2018
Cyber War With China Using 5G? Trump Officials Disagree About The Reports
As Axios notes, the wireless industry is already deploying 5G networks to customers. It would then rent access to carriers like AT&T , Verizon and T-Mobile, it said.

January 29, 2018
5 facts you may not know about late IKEA founder Ingvar Kamprad
It was the start of what became IKEA, now with 403 stores across the globe, 190,000 employees and $47 billion in annual sales. Swedish Foreign Minister Margot Wallstrom tweeted her condolences, saying that Mr Kamprad had "put Sweden on the world map".

January 28, 2018
Boogie Cousins out for season with torn Achilles tendon
The MRI results confirm that Cousins will miss the rest of the season, and also puts the start of his 2018-19 season in doubt. This just sucks, Cousins - already arguably the best big man in the game - was having the best season of his career.

January 28, 2018
Nelly Faces Two New Accusations Of Sexual Assault
She says Nelly suggested she and a friend accompany him to an after-party, offering a ride since she had been drinking. Nelly allegedly pulled up his trousers , walked towards her, and again dropped his trousers and started masturbating.