💨 Abstract

Venezuela's National Assembly has declared an economic emergency due to US sanctions and tariffs on oil exports. President Maduro signed a decree on Tuesday, giving him the power to suspend constitutional guarantees during a national emergency. This decree aims to support national production and allow agile decisions in response to economic scenarios. The US has given oil companies, including Chevron, Eni, and Repsol, until May 27 to wind down operations in Venezuela.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖