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The US Government is pushing for regime change in Venezuela and that means tightening the screws on Venezuela’s global oil transactions.  And that could extend to Belize.  

We say that because it was reported today that Washington has imposed sanctions on Albanisa, a private Nicaraguan company that trades in Venezuelan oil. 

According to Reuters, US National security advisor John Bolton announced the sanctions on Wednesday, calling Albanisa a joint venture with Venezuela’s PdVSA and a â€œslush fund of the corrupt regime of Daniel Ortega,â€￾ Nicaragua’s president. 

Now, in Belize, there is also a joint venture company with Venezuela - it’s called APBEL, short for  Alba Petro-Caribe Belize Energy Limited. 

PDVSA, which is Venezuela’s national oil company holds 55% of the company and BPEL, a Belizean state owned energy company holds 45%.

When the Petrocaribe initiative was active - APBEL acquired and sold the fuel from PDVSA.  Petrocaribe is now dormant but the company, and office remain.  Belize’s Petrocaribe debts to Venezuela are substantial.  

The US blocked PdVSA’s assets earlier this week in a bid to force the government of President Nicolas Maduro to accept the self-proclaimed and US-backed Juan Guaido as president.