What’s next for Venezuela?

Diego Moya-Ocampos, principal analyst, IHS Markit U.S. sanctions are likely against Venezuela’s oil sector after the 20 May presidential election in which incumbent President Nicolás Maduro secured re-election to extend the mandate of the ruling United Socialist Party of Venezuela (Partido Socialista Unido de Venezuela: PSUV) for six more years. In the poll, the PSUV took advantage of the control it exercises over the National Electoral Authority (Consejo Nacional Electoral: CNE) and the armed forces, but the opposition and the international community are not recognising the results under claims of electoral fraud. Maduro’s mandate is unlikely to be recognised by the opposition and the international community Including Canada, the European Union, the United States, and most Latin American countries including […]