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US Sanctions on Russian Oil Company for relations with Venezuela’s Dictatorship

The impact of big corporations in the triple bottom line aspects in countries where corporate citizenship is not taken into account at all

US Sanctions to Russian oil state company Rosneft for supporting and doing business with the illegitimate government of Nicolas Maduro and his narco-dictatorship in Venezuela

Source: Politico

People in the united states take politics very seriously, even for the smallest issues and controversies people tend to lose their minds and feel like their country and their government is falling apart. What those people do not realize is that even though they are engaged in political issues and decisions, they still form part of one of the freest countries of the planet with one of the strongest democracies of the world.

Just across the Caribbean Sea, there is an extremely rich country in terms of its natural resources, human capital, and other aspects. During the last 20 years, this country has been under communist and socialist leaders who had not done anything else that collapse all the industries of the country. Any guess what this country is? Venezuela, the country with the biggest oil reserves on the planet is starving its people to death. Without giving them access to health care and even private medicine. This country is also living through the biggest hyperinflation to ever exist.

Image result for rosneft venezuela poverty

Enough about politics, I am going to talk about the influence that the US government has implemented into ending this dictatorship. Since 2018 the US has imposed sanctions on Venezuelan government officials and companies that do business with them. One of the main reasons for these sanctions is corruption and drug-related issues. Two weeks ago, the united states of America imposed sanctions on an oil Russian company that has been doing business with the government of Venezuela in order to pay the huge debt the Venezuelan government now owes to Russia.

Image result for venezuela poverty

Now, I want to focus more on the impact this Russian company has done to the people of Venezuela in terms of the triple bottom line (economic, social, environmental). the Russian Rosneft has not behaved responsibly in terms of the consequences it produces to the Venezuelan citizens. I want to focus on two of the three aspects of the triple bottom line. In terms of the social impact, this company has been responsible for indirectly helping the corrupt government maintain power in Caracas, the capital. By being “friends” with this government is indirectly responsible for the millions of people who are starving to death living in poverty, hyperinflation, and insecurity all over the country. Finally, in terms of the environmental aspect, this company has not acted responsibly for maintaining good security measures in terms of personal and environmental. The exploitation of oil and other resources is being done without the proper measures to ensure sustainability and security to the people working in those areas.

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