US May Have Scored An ‘Own Goal’ In Venezuela Oil Sanctions

A former President of the Saint Lucia Petroleum Dealers Association has suggested that the United States may have scored an ‘own goal’ in the imposition of oil sanctions on Venezuela.

In an interview with St Lucia Times, Everistus Jn Marie noted that a huge portion of Venezuelan exports are destined for the US market.

“In many ways it is sort of an own goal for the United States to place an embargo on Venezuelan oil products,” Jn Marie stated.

Oil sanctions imposed by the United States are expected to severely hit an already battered Venezuela economy.

But the United States is Venezuela’s largest crude importer, ahead of India and China.

According to reports, new measures announced by the US limit transactions between American companies and the Venezuela state oil company, PDSVA.

“41 percent of Venezuela’s exports are destined for the US market, so that any disruption is likely to cause a supply issue and cause the price of oil to spike and by extension, the price of petroleum products to go up in the United States,” Everistus Jn Marie told St Lucia Times.

As he spoke, National Public Radio (NPR) reported Wednesday that Oil prices were up more than 2 percent after the U.S. imposed sanctions on  PSDVA.

However, Jn Marie expressed the view that there would be no immediate direct impact on the price of fuel in Saint Lucia from the crisis in Venezuela, since this country’s supplies of petroleum products come out of Trinidad and Tobago.

“However, in a world that is so interconnected these things do have implications far beyond the immediate points of influence,” the former President of the Petroleum Dealers Association explained.

“The problem for us here – I don’t know if you are aware that since October 2018 Petrotrin has stopped refining finished products for the region. In fact they are totally out of commission and have been importing their products from the United States, he observed.

“So it means that any increase in the price of oil and the associated final products that go up to the US will have implications for Trinidad and have implications for us,” according to Jn Marie.

“Although the consequences are not direct, but they eventually will affect us somewhere down the road,” he stated.


  1. What nonsense Mr Everistus. Sanctions are usually temporary and it is usually imposed to affect the economy of a country. What you have not stated, which in my view is deliberate, is that the American has a very large oil reserve which they can depend on for decades.

  2. I fear that if the U.S. sanctions destabilize Venezuela then this may strengthen the drug lords and Venezuelan criminals which could trigger an exponential increase in drug gang related violence in the Caribbean. Political instability and civil war in Venezuela would not portend well for Saint Lucia and other OECS countries.

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  4. Doesn’t Jn Marie know that the US has enough oil of their own? They were even talking about exporting do now they will start to ramp up production when they can’t use someone elses

  5. The USA will keep on doing bussines as usual with Venezuela their idea is that the money will go to another acount not Maduros and this is complicated,but it will all be over soon.

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