October 13, 2020

Venezuelan coal exports rise as U.S. escalates oil sanctions

Featuring Peter Harrell

Source: Reuters

Journalist Luc Cohen

Venezuela is ramping up its production and export of coal to European nations, according to export figures and vessel tracking data, as it seeks new sources of foreign currency amid tightening U.S. sanctions aimed at topping President Nicolas Maduro.

Venezuela’s coal exports tripled to 310,000 tonnes last year, generating nearly $40 million, after Washington imposed sanctions in January 2019 on state oil company Petroleos de Venezuela (PDVSA), according to figures from the U.N. trade database Comtrade.

Read the full story and more from Reuters.

Authors

  • Peter Harrell

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Peter Harrell is an adjunct senior fellow at the Center for a New American Security. He is a leading expert on U.S. economic statecraft, including sanctions, export controls, ...