UCF Global Perspectives

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Tag Archives: Venezuela

Venezuelan Power Struggle

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The Venezuelan government is facing a power struggle after opposition leader, Juan Guaido, declared himself “interim president” of Venezuela on January 23, 2019 (Venezuela Analysis). This followed the re-election of President Nicolás Maduro, where allegations of vote-buying began spreading (Reuters). The United States (US), Canadian, Brazilian, Argentinean, and Colombian governments have all recognized Guaido has […]

US Sanctions Venezuela

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US President Donald Trump is continuing to pressure the government of Venezuela with new sanctions (Fox). Trump signed an executive order to ban anyone in the US from involving themselves with “corrupt or deceptive” gold sales from Venezuela (REUTERS). National Security Adviser John Bolton stated, “The new sanctions will target networks operating within corrupt Venezuelan economic […]

Venezuelan President Wins a Second Term

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Venezuelan President Nicolás Maduro won reelection on Sunday. Maduro won by a wide margin, receiving 68% of votes cast, to second-place finisher Henri Falcon’s 21%. Maduro will serve another six-year term, continuing through 2025 (LAT). Opposition leaders called for a boycott of the election to express their dissatisfaction with the government; the voter turnout was […]

Venezuelan Government Announces Petroleum-Backed Cryptocurrency

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On Tuesday, the government of Venezuela launched a presale of the petro, a cryptocurrency backed by the country’s petroleum assets. The government set the opening price of each petro at $60, making the petro the first cryptocurrency to be publicly issued and controlled (El País). The government has set aside five million barrels of petroleum […]

Venezuelan Government Wins Easier Debt Terms with Russia, China

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The Russian and Venezuelan governments signed an agreement on Wednesday confirming a ten-year payment plan for Venezuela’s 3.15 billion dollar debt to Russia (WP). Venezuelan payments to the Russian government will remain nominal during the first six years, allowing for economic stabilization and development, reported the Russian Finance Ministry. A day later, Geng Shuang, the […]