In desperation, Maduro’s autocratic regime has turned to Iran, another pariah state, for assistance. The collapse of Venezuela’s once-mighty oil industry has not only caused the Latin American country’s economy to implode, but it has triggered massive gasoline and other shortages. U.S. sanctions are biting deeper, sharply impacting what was once South America’s richest economy. As of the final week of October 2020, the U.S. effectively ended sanction exemptions which allowed India’s Reliance Industries, Spain’s Repsol, and Italy’s Eni to receive Venezuelan crude oil. Those measures form a key part of Washington’s concerted effort to block Maduro’s regime from accessing global energy markets, as it ratchets up the pressure to oust him from power. This, along with Caracas’ desperation to generate hard currency from export earnings, has seen Maduros’ regime actively seek Teheran’s assistance. Iran’s foreign minister arrived in Caracas this week to start a tour of Latin America […]