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Tuesday, 24 May 2016

Venezuela's oil diplomacy is past its sell-by date

Crackers in Caracas

The Bolivarian Republic still gives about $9 bln a year in free crude to the likes of Cuba. Even ignoring domestic shortages of staples, that’s enough to cover, say, a year of debt service. With economic cracks widening, President Maduro could start by cutting off this largess.

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