According to the White House, the ship was transporting sanctioned oil. Caracas denounces the act as an attack on its energy sovereignty and a sign of Washington’s true intentions in its recent military deployment in the Caribbean.

The extension comes as the country continues to battle the COVID-19 pandemic, with Maduro securing 10 million Sputnik V vaccine doses.

A British high court ruled on July 2 that because the UK recognizes opposition leader Juan Guaidó as president, it does not have to give the government of Nicolás Maduro access to the reserves

The post second World War US hegemony was based on oil prices being pegged to the dollar. Will the hegemony of the dollar survive the corona oil shock?

NewsClick Editor-in-chief Prabir Purkayastha talks about the effects of the Iran sanctions on the global economy and forecasts how the countries like China and India will react to the Trump administration’s refusal to extend waivers on oil purchases.