Venezuela's Oil Revenues Reached $5 Billion In 2022 - Maduro

MEXICO CITY (UrduPoint News / Sputnik - 01st April, 2023) Venezuela's oil revenues last year amounted to $5 billion, which is less than 10% of the level of foreign exchange earnings before the imposition of sanctions, Venezuelan President Nicolas Maduro said.

"Venezuela's revenues in the year following the imposition of sanctions fell from $56 billion to $900 million ... We made an effort, and last year oil revenues reached $5 billion - less than 10% of the earnings that we previously had," Maduro said at a Friday healthcare event in Caracas, as broadcast by VTV.

In January, Maduro said that non-traditional exports of Venezuelan products, which do not include metals or oil products, more than doubled in 2022 and amounted to $1.314 billion. Imports also more than doubled, from $3.979 billion to $8.194 billion.

Last year, sources told Sputnik that the United States is looking at Venezuela as an additional source of crude oil, but has no intention of a blanket lifting of sanctions.