Should Trump decide to take action, it could include an embargo of U.S. imports of Venezuelan "heavy crude" oil and end U.S. exports of "light crude," which is mixed with the South American and OPEC nation's heavy crude. From where do Trump and the United States get leverage? First, Venezuela is highly dependent on the U.S. purchases, by far its largest market and one of the few countries with refineries capable of handling its "heavy crude." Second, the United States is not particularly dependent on Venezuelan oil. So much so that, under changes made by former President Obama, the United States can now export oil, which was largely prohibited for more than four decades on national-security grounds.

Source: Forbes July 29, 2017 21:33 UTC