The United States has announced the reimposition of oil sanctions against Venezuela, a move that has significantly derailed the country's economic outlook for 2024. Previously, experts had forecasted growth, but the U.S. decision has sent shockwaves through the local economy.
Local merchants in Caracas are expressing deep concern over the sanctions, fearing that decreased oil revenues will lead to reduced incomes and heightened economic instability. \"Our businesses rely heavily on oil exports, and these sanctions could mean the difference between sustaining our operations or shutting down,\" said one merchant.
The Venezuelan government has yet to respond to the sanctions, but the implications are already being felt across various sectors. As the country grapples with this new development, the international community watches closely to see how Venezuela will navigate these heightened tensions.
Reference(s):
cgtn.com
