well differently significant. that is with main source of revenue the steel sector it represents twenty five percent of g.d.p. fifty percent to fifty revenues and ninety seven percent off for an exchange so essentially sanctions own business where the oil sector is a game changer and in the past hour there's been some more clarification from the u.s. that says that they will actually allow that as well as opposition to still have access to certain accounts and certain properties so charles do you expect there to be more clarity and more tweaking about the sanctions going forward but i hope so because that's news to me and i'm sure exactly how we would do the important point is exactly the this is where this is where we get foreign exchange. the oil money goes to china and russia is to pay back loans the

not really a cash for the united states to the exports united states are the same sources of revenue from the oil sector and i'm glad you brought that up so yes we're the u.s. is going to be pulling back other countries are going to step in what are the implications when it comes to places like china and russia and india charles. on a daily right now negative newspapers here are already going to go to bargain oil from because we're doing in the imports oil china imports oil a baby needed but it's not. so. how do how. the markets will react readings themselves presumably other countries will bottle out but divided because transport costs. shipping oil to india should be what china is much higher in shipping oil across the gulf of mexico to louisiana

to go to god like you to weigh in weigh in on that as well what other countries benefit from this from the sanctions. well whether come to harm by the sanctions was certainly q what do you worst main source of revenue i d's movement is the export of professional services and i when it talk about the export of professional services i mean not only medical doctors of these broadly advertise but in delhi in security operatives on the ground so clearly these would affect. us main source of revenue which is a much higher than what they receive from tourism from remittances so you would certainly have an impact with this and for doing what the ambassador have just say it but it will it will be force to put to i took a piece in the market but a significant these come and plus transfer costs will certainly undermine their

capacity to get it right revenues and to keep up with expanding on the most important thing i think here to keep the loyalty of the military and the police all the security apparatus which basically other ones who are not only running the economy but also the ones which are in control of contains even the rest you know sort of perverse relation where the same people who control the economy the same ruling elites are the ones which are in charge of law and order and are the ones which unfortunately are repressing business when it's protesting in the streets demanding free and fair elections and charles i'm glad you brought up the military we're going to come right back to that the first i want to. your your sister my understanding your sister is and then as layla right now what is she experiencing while all of my family most of my family is in venezuela they're struggling you have professionals who are earning trying to live with ten dollars a month eight hundred people so far has been have been apprehended by the

government there in prison protestors in prison the moment they say over seventy people killed since the twenty third of january from protests so i think crackdown on the normal people and their. humanitarian crisis i was there last year i went to the border with colombia in the north with my cow and you saw the little lines queues of thousands of people waiting to cross to colonia some of them walking to places like distance like chilling on forts just to form the humanitarian crisis that we have which is you know of proportions that the country never ever experienced in its history in a majority we played a little bit earlier of some of the things that some of the comments he was making when he's telling the venezuelan people that this is about the u.s. taking our country from us other people that that will resonate with ira well very few of course the. stronghold of people who believe what the government said who

follow the media the state controlled media and the government has gone through from a media that was very critical of him now to a media that is almost completely loyal to him or very censored so a lot of he still have a stronghold i think they have a minority strong home let's not forget that this star this crisis started in two thousand and fifteen when the venezuelan government on their mother or refused to recognize that the new power of the national assembly which was elected by the majority of people when they swell and then create a super imposed national constitutional congress is like if the prime minister of britain refused to recognize the parliament and then simply created a supra parliament on top of that in a recollection in which in which that's where the crisis started when you start ignoring the rules of law or the rule of law and you don't i said the resource that you laws which are very small has lost huge ground particularly was always its

popularity has been tied to the oil revenue so. in a way it's not new in the one nine hundred seventy s. where venezuela had a huge oil boom well certain parts of the positions were very pop. and when the oil boom came down they lost power in ninety six when the oil came down when this one has always been very dependent on oil perhaps not as much as today as dependent on oil and and one of the promises is created all these social programs which seem very good for many people outside because they see that they were addressing poverty but actually did they not solve the structural problems that create poverty levels of productivity were very low the injuries more lots of nationalizations of companies were. exacerbated the problem just just to mention one example when in one thousand nine hundred eight when it came to power there were eight or nine companies that produce corn flour which produces a particular food quality but which is central in the diet of the venezuelan seven

there were nine companies that produce from those nine companies seven were nationalized by the. by the chinese himself one left closed down and there is only one left which is the whole of the private company from the seven companies that the government not a single one is producing most of them how close down that's the origin of today's problem it did oh why has production dropped off so drastically over the years in venezuela. well these has been the direct result of widespread corruption and big beast management firms which i was and then we modal that's what has led to a currency it way ssion where oil production continues declining systematically when charles came to power in one thousand nine hundred nine approaches to the three point four million barrels per day to years ago it stood up two point four

million barrels probably at the moment as you refer briefly is around one point two millibars per day and expected to go down at the three hundred thousand barrels per day and in these has been there we sold of widespread corruption and big mismanagement. there the also the old national oil company. at the moment easing the hands of the military always top management are active members of the military and these are people who might who has granted power over the old services equal to ports airports import of food or by sea goods these are the people who basically have benefit have profiteered from a complex patronage system or a location of preferential dollars and the same people based i mean they're in command which runs economy with france the whole sector some of these factions not all but some are in bowls with drug trafficking fuel smuggling illegal mining and

human trafficking and always really these are the guys who currently continue support the modal and i r r so what incentive becoming the main obstacle. what is sensitive about the position of minutes what incentive do those people's people they are talking about that you're describing what incentive do they have to turn on him. well that's the main problem they have little incentive to withdraw support from hutto because they fear that not only the political and economic influence will be beenish but also more importantly that they will be held accountable for corruption for illicit activities i and i'm talking about drug trafficking illegal mining fuel smuggling human trafficking very serious crimes and also of gross human rights about relations in containing street brought this not only the group way from brought this but also way for protests in two thousand and seventeen two thousand and fourteen and they brought this which venezuelans are staying because of shortages of food or basic goods because of the collapse of the whole system

because most of these monthly know about keep up boxing nation programs because of lack of water supplies constant them frequent electricity blackouts like those gas which is what most when is when is used to cook and this is. what we've seen in minutes well out of this stronger the brought this the stronger have been the repression by the police and the military now has to be i have to precise that these are the ruling elite from the high military command but the rest of the armed forces the meal rank the rank and file suffering from the same prolife as the rest of them in his words these are the people which could make the difference indeed in the following days surely if brought this convene escalated escalating and if they can do you mean strong international support to restore course you do should undemocratic order and to pave the way for a democratic position because in the end what business what is want. what they are demanding is strict brought this on the streets and what the international community is calling for if the free and fair elections we did in the pending

electoral forit the we the national service so ok so that they will the conditions you described have been have been happening in venezuela for quite some time and what national scary advisor john bolton said he said it will make a big difference to the united states economically if we have american oil companies invest it and produce the oil capabilities in venezuela charles wanted to put this question to you how much of this is about democracy and human rights and how much of it is just about u.s. businesses look yes this is different in the israel u.s. oil companies. have helped develop the fields for the for better base of foreigners whelan's. there is whalers oil supplies the united states is in instance for terms less important as united states is producing more oil i don't think that's really the issue what i think. and i can't we both and mine i

don't want to. read behind his words. but u.s. companies and the united states itself were standing ready to help rebuild in israel your question earlier about the military in they have to be thinking twice now being it's not united states along the charles every major latin american country. the european union collectively u.k. germany france spain individual e. australia i morgan i don't get i can't list. who is said if the elections are called this week they will withdraw our recognition. from the door i mean so these people have to be really concerned on the one hand about what's going on internationally and on the other hand by the economic crisis

in the country and we'll that what point will that create the kind of chaos which is not necessarily going to the generals but where the power of the junior officers and enlisted troops take action against the git go. hiero do you think that support for quite a while will continue to grow to think that he has the means to galvanize support i'm i think it all depends on the next move i will i will strike a note of caution here about shane expected that the military will immediately crack down i mean the military minutes will have been preparing for this moment for some time and i'm not talking about military terms of talking about for example developing the other community for you know which is extra huge. operation in the amazons to produce. or to extract gold and struck rainier ohman and other minerals this is completely controlled by the ecological disaster but

they're getting a lot of money from it huge amounts of money are going illegally through that there's. been shipped at the moment there's no control over this other community and so the military has been prepared also remember that the cuban intelligence forces you to are very present within the venezuelan our former selves in they have . deeply penetrated the armed forces so i would be cautious about expecting that the military will just crack up at the moment or that the there are been some of the military pronounce in self but it hasn't been us wily aseptic who i don't know is at the moment very popular because for a while a lot of the hopes of the venezuelans have been dissipated by the failure of the protests of two thousand and six seventeen to to bring back the mark recy into the

country so why dog came suddenly one of the things which was very strategic when wide open here is that it was not a very well known leaders of the government was on able to demonize him as they have done or imprison him as they have done with other leaders so it's surely this guy appears so the. i mean he's still very very popular but venezuelans a lot of the benefit of the position is very divided a lot of them have been collaborating with the government and that has to be recognized so one way though people can lose patience if they don't see change quick enough and the chavez government is playing with time and that's in their favor i think ok. do you see what obeying in a position to to take this moment to seize this moment and and gather more support . yes absolutely but first i want to agree with what has been mentioned about the un forces ok young forces are one of those situations which is more under

surveillance under spear nash not only by the cubans but also by the stronger countering daily u.s. military aid you see the is he so for them it is very difficult to state something or this report something different than the state of school or these means for the meat ranks of the troops to the union or officers so far will be seen as the meat runs these contained is rituals to mutiny we've seen on the twenty five twenty first of january and years before we get sort of barracks. i think up to what he wrote police officer or barry has been done these contend that these actions have only served for the upper ranks to purge the un forces from and the mother and i and the chinese to ranks and you know terms what have been proven challenging for them have been buccal a lack of coordination pure communications a lack of support of the upper rungs how made it very difficult for their actions to succeed unless. there is something that proves to have overwhelming.

support from all the meat runs it's unlikely to succeed and i think that's why all the international communities align an effort to try to support business with and to pay their way for a democratic transition even as with i for one way to one way though is a fresh face within that is what it will see should. he's very well respected by the venezuelan border it's as a man of consensus but he's also better will respect by the so-called radicals because he's part of the interaction of two thousand and seven which basically played a key role and an active role even adjoining the populations he will society events he stood in street broken so he's very well respected by more there it's radicals but i think we have to be very clear that where you go is a means to an end way though basically has assumed the interim prescious you're bennis well not proclaiming the surface wrongly to me how for training but

basically even compliance with article two three three of the constitution which says that basically when there's a power vacuum the head of the national assembly in this case one will need to step in i'm call for elections does basically what happened after my little initiated a second term not recognized by the international community broadly he's do something they're going to sell for nineteen should have not also been recognized by international community because there were also allegations of fraud by any case there is no dispute dup there to soften it the elections were indeed the result of a front so what i mean he's what goes aim is not to conduct a long term government has a basically two critical issues one feel very lections and i end up ok let's let me bring it out let me bring in higher again u.s. president all trump has said that he is keeping all options on the table that includes not necessarily ruling out some sort of military intervention which you

would wish your family was in venezuela actually want something like that. well i think i think they want back to more prosy and i think this current situation is also a stain of all nobody wants to kill it nobody wants to have this and i'm violent and sometimes i wonder because i hear many voices in the u.s. calling the trumpet ministration to backoff and that's that's a legitimate call however i also want to hear those same voices calling for my daughter to back off this situation can easily be solved solved by mother stepping down and calling for election and respecting the results of two thousand and fifteen going back to legality it's a simple as that so i think the what the majority.