Venezuela’s oil boom crashed into a 73% economic contraction fueled by extreme subsidies, $300 billion lost to corruption, PDVSA underinvestment, and U.S. secondary sanctions that slashed oil output and deepened collapse.

Why Venezuela’s vast oil reserves and growing ties with Russia, China and Iran turned the country into a major strategic flashpoint for the United States, reshaping sanctions, geopolitics and power equations in the Western Hemisphere.

Venezuela could lose the bulk of its oil export revenues this year if the U.S. blockade stays in place, according to internal government estimates, a scenario that would set off a humanitarian crisis.

If there's one part of foreign policy where President Donald Trump has been consistent, it's economic sanctions on Iran. During his first presidency, Trump imposed what the State Department called a "super-maximum economic pressure campaign." Throughout ...

Iranian President Masoud Pezeshkian has acknowledged the validity of a key driver for the agitation: frustrations over Iran’s economic conditions.

United Nations: A raft of UN sanctions on Iran over its nuclear program, lifted under a landmark 2015 deal, went back into force late Saturday. The sanctions were reimposed because the "E3" European group -- Britain, France and Germany -- triggered a ...

Ten years after wide-ranging UN sanctions on Iran over its nuclear programme were lifted under a landmark deal with world powers, the economic measures are likely to be reimposed Saturday evening. The Barron's news department was not involved in the creation of the content above. This article was produced by AFP. For more information go to AFP.com.

The petrodollar system, established in the 1970s, has been vital for US economic and geopolitical dominance by ensuring global oil trade is conducted in dollars. , Economy, Times Now

US President Donald Trump’s move to sanction two of Russia’s largest oil firms - Rosneft and Lukoil - may finally force India and China to drastically reduce or even stop their crude oil imports from Russia. China and India are among the top importers ...

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