The new hydrocarbon law was drafted in the context of growing US aggression. For several years, Venezuela had been subject to "sanctions" amounting to an economic blockade.
Then in 2025 the US sent warships into the Caribbean. While they began by sinking small boats claimed (without evidence) to be involved in drug trafficking, it was obvious that they were likely to go further. It is now clear that they were preparing for a naval blockade and the bombing of Venezuela. The naval blockade continues. The US is able to decide which ships can enter and leave Venezuelan ports. It can totally block all Venezuela's oil exports if it chooses to do so. This puts Venezuela in a very weak bargaining position. This was the context in which the Venezuelan government decided to amend the hydrocarbon law to give more favourable treatment to foreign capital. While the law was drafted before January 3, this was done in a situation of growing US attacks and threats. For socialists in the US and its allies such as Australia, it is essential to campaign against the blockade. Only if the blockade is ended can Venezuela freely decide its economic policies, including its legislation governing the oil industry. Chris Slee -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#40631): https://groups.io/g/marxmail/message/40631 Mute This Topic: https://groups.io/mt/117554663/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
