US Imposes Sanctions Against National Oil Company, PDVSA – Statement from the Government of the Bolivarian Republic of Venezuela

Posted on May 25, 2011


Bolivarian Republic of Venezuela

Ministry of People’s Power for Foreign Affairs


Venezuela Rejects U.S. Sanctions Against PDVSA

The Government of the Bolivarian Republic of Venezuela has learned of the decision announced by the Department of State of the United States to impose sanctions against our oil national company, Petróleos de Venezuela (PDVSA), as part of a unilateral law targeting the Islamic Republic of Iran known as CISADA.
The Bolivarian Government expresses its strongest rejection to this decision since it constitutes a hostile action on the fringes of international law that violates the principles of the Charter of the United Nations.
The Bolivarian Republic of Venezuela and its revolution have a strong, independent and sovereign oil industry able to operate and permanently fulfill its commitments. Faced with this aggression, Venezuela further ratifies its oil independence and sovereignty.
The Government of the Bolivarian Republic of Venezuela is undertaking a general assessment of the situation to determine how these sanctions affect the operational capacity of our oil industry and, therefore, the supply of 1.2 million barrels of oil per day to the U.S. Pending this assessment, the Bolivarian Republic of Venezuela reserves itself the most adequate answer to this imperialist aggression.
The revolutionary Government calls on all the Venezuelan people, laborers and especially the oil workers, to stay alert and mobilized in defense of our PDVSA and the sacred sovereignty of the homeland.
Caracas, May 24, 2011