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Iran, Mexico, oil and the sourcing of Venezuela’s food

Ags - Grains/Beans 240 Consumer Staples 603 Energy - Crude Oil 259 Iran 31 Mexico 725 Programmatic 32 Sanctions 112 Venezuela 64

Iran has threatened to retaliate against U.S. shipping if the U.S. blocks Iranian tankers bound for Venezuela. Shipments of oil and food to Venezuela remain fragile in the wake of U.S. sanctions. Panjiva’s data shows Venezuelan imports are dominated by foodstuffs including soybean oil and rice among the top products imported in 2019. Mexico’s President, Andres Manuel Lopez Obrador, has indicated Mexico could step in with oil and food for Venezuela on humanitarian grounds though recently applied U.S. sanctions may change that position. Historically Mexican exports to Venezuela have focuse...

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