Oil is a jungle out there, said Maduro

“The (oil) war has an objective: to destroy Russia. It’s a strategically planned war,” Venezuelan President Nicolas Maduro told his country’s business leaders as he explained the reasons behind Venezuela’s shrinking economy and the dramatic impact of the plunging oil prices whose revenues represent 95 percent of Venezuela’s safe-haven currency reserves. This war’s “also aimed at Venezuela, to try and destroy our revolution and cause an economic collapse,” Maduro added. 12-month inflation of Venezuela reached 63.6 percent in November 2014 and the year’s GDP is likely to contract approx. 3.9 percent. Venezuela’s central bank put the blame on political opponents whose “actions against public order blocked the correct distribution of basic goods to the population, as well as the normal development of production of goods and services.” The latter replied the crisis actually resulted from 15 years of socialism that brought such “wonderful (…) economic efficiency,” tweeted opposition leader Henrique Capriles.