“The effects of sanctions will make these figures even more dramatic throughout the course of the year. According to data not yet available, Venezuela reduced its oil production to just 600,000 barrels per day in March. But half of that oil is sent to China and Russia as debt repayments. ‘There always exist ways to circumvent sanctions. Iran and North Korea are proof of this. The problem for Venezuela is that without dollars, there is no food,’ said Allison Fedirka, and analyst from the risk consultancy Geopolitical Futures.”
Special Collection – The Middle East