Article Link: https://www.reuters.com/world/us/exclusive-washington-pins-easing-venezuela-sanctions-direct-oil-supply-us-2022-03-09/
As oil prices continue to rise in the United States and across the world, people are becoming frustrated with leaders and the war as it is contributing to high gas prices. The U.S. rightfully so banned oil imports in Russia leaving for American gas prices to go even higher than what they were. Recently the U.S. has requested to access oil in Venzuela as there are sanctions between the U.S. and Venezuela. It thought to be that the U.S. is taking this measure to compensate for not having access to russian oil. There have been talks between Venezuela and the U.S. regarding the matter but nothing is official yet.
In my opinion the U.S. has not done a good job ofdealing with oil. It started with President Biden banning fracking and oil drilling in the U.S. which made gas prices rose last year. Now to add to that, the Russian and Ukrainien war is going on which limits us from accessing oil in Russia. It is good though that the U.S. has decided to not to acquire oil from Russia even though they are a key country for oil for the U.S. I don’t see why the President Biden can’t access oil from our backyards. Gas prices would go down which would settle the market and Americans could worry a little less about paying so much for gas.
Sanctions play a huge role in this war and gas crisis. There has been so much that has changed and shifted in the international relations world because of sanctions. The U.S. placed santicons on Russia, leaving for the American people to struggle to pay for gas. Now instead of placing a sanction, the U.S. is removing a sanction on Venezuela. Possibly in the future the U.S. could have a tighter partnership with Venezuela if this deal works out. The sanctions aren’t doing much to Russia now, however in the future they might play a huge factor in the Russian economy.