Argentina’s President, Mauricio Macri, has called on the United States to install a full embargo on Venezuelan oil shipments. In an interview for the Financial Times, Macri said that the social situation in Venezuela is rapidly deteriorating and more decisive measures are needed to topple the Nicolas Maduro government. It’s been said before more than once that a total oil embargo against Venezuela would hurt Gulf Coast refiners in a bad way, which is perhaps the only reason why it has not been used so far and remains unlikely to be used, whatever happens in Venezuela. What’s more, the prospects for the country are not necessarily going to become brighter if Maduro is ousted, although this would certainly relieve the pressure between Caracas and Washington. When recently news broke that Venezuela plans to restructure its debt, sparking concern that it can no longer service its hefty debt and a […]