Can Venezuela help the West wean itself off Russian oil?
Nicolás Maduro, the country’s autocratic president, may make that difficult
ON APRIL 22ND a ban on Russian oil imports will come into effect in the United States. One of the countries that could benefit is Venezuela. According to Credit Suisse, a bank, its economy is expected to grow in real terms by 20% this year, albeit from a very low base. This will be driven wholly by the oil industry. The bank expects petroleum output to increase by more than a fifth.
This article appeared in the The Americas section of the print edition under the headline “Enemies with benefits”
From the April 23rd 2022 edition
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