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World

Reuters: Venezuela's Maduro seeks OPEC help against U.S. sanctions

Monday 11/February/2019 - 05:22 PM
Venezuela’s President
Venezuela’s President Nicolas Maduro
Reuters

(Reuters) - Venezuela’s Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his country’s oil industry، citing their impact on oil prices and potential risks for other members of the producer group.

But a source familiar with the matter said the Organization of the Petroleum Exporting Countries، of which Venezuela is a founding member، had declined to make any formal statement. OPEC says it is concerned with oil policy، not politics.

More than 40 nations including the United States، European powers and most of Latin America have recognized Maduro’s rival، Juan Guaido، as the country’s rightful head of state، following disputed elections last year.

The request was made in a letter sent to OPEC Secretary-General Mohammad Barkindo dated Jan. 29 and seen by Reuters، a day after the United States imposed sanctions on Venezuelan state oil firm PDVSA.

“Our country hopes to receive the solidarity and full support of the member countries of OPEC and its ministerial Conference، in the fight we are currently having against the illegal and arbitrary intrusion of the United States in the internal affairs of Venezuela،” Maduro wrote.

I seek “your firm support and collaboration to jointly denounce and face this shameless dispossession of... important assets of one of the members of OPEC”، the letter said.

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