Maduro declared an emergency in the energy sector

The Venezuelan leader signed a decree on reform in the oil industry to protect against US sanctions.

Maduro declared an emergency in the energy sector

Venezuelan President Nicolas Maduro has announced an energy emergency and the creation of a presidential commission to restructure the country’s oil industry, foreign media reported. It is noted that the emergency regime was introduced with the aim of taking urgent measures to ensure the energy security of Venezuela.

On February 18, the United States imposed sanctions against the Swiss division of Rosneft Rosneft Trading SA. Restrictive measures also affected the chairman of the board of directors Didier Kasimiro.

In Washington, it was stated that the company acted as an intermediary in the sale of oil from Venezuela around the world “on behalf of the illegitimate regime of Maduro.”

Earlier it was reported that due to US sanctions, the Venezuelan economy suffers losses of$ 116 billion.

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