Economic policy of the Nicolás Maduro administration

The corporate logo of Venezuelan state-owned oil company PDVSA is seen at a gas station sign

Why does oil matter so much to Venezuela?

Oil accounts for 95 percent of Venezuelan exports. It’s became even more critical when the Trump administration blocked US revenue to a subsidiary of Venezuela’s state oil company in a bid to force Venezuelan President Nicolás Maduro from office.

Venezuela's President Nicolas Maduro raises a finger

International criticism is widespread after Venezuela announces Maduro won re-election