The government of Hugo Chavez has used Venezuela's oil wealth to radically improve the wellbeing of the people.
A statement by the Australia-Venezuela Solidarity Network
May 28, 2011-- AVSN -- On May 24, the United States' State Department unilaterally imposed sanctions against Venezuela's state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA), accusing it of undermining the US sanctions against Iran by sending two cargo ships delivering US$50 million worth of reformate -- a blending component used to improve the quality of gasoline. The sanctions, which will last for two years, prevent PDVSA from entering into contracts with the US government, and bar it from import-export finance programs and obtaining licences for US oil processing technology.