In my last post, "Reneging on the Iran Deal: follow the money up and down," I stated, "Venezuela may get hit even harder with sanctions and other dirty tricks to keep the government and its poor supporters there from benefiting by higher oil prices." "ConocoPhillips Moves to Seize Venezuelan Oil Assets as PDVSA Maneuvers to Safeguard Tankers" helps add some background on it, but that article fails to explain why Venezuela nationalized US-oil industry "assets" in the first place.
US companies made deals with anyone and made sure those who made those deals were rewarded even though the deals hurt the poor in the countries where those deals were made. Venezuela was no exception. The common people of Venezuela were being completely ripped off due to fraudulent, totally unethical deals made by utterly corrupt leaders who always rigged the system against the poor and near poor.
Of course, the fake "free market" types rail against "socialism," which Venezuela has only aspired to, never obtained, not even close, while those self-styled free-marketers turn a blind eye to their "free market" ripping off whole nations. Then they falsely claim socialism never works while heavy sanctions are put in place against what's called market socialism and while the US government (completely owned by, and operated for, US Plutocrats), through its CIA, conducts its endless stream of dirty tricks, including duping the American people through an endless stream of lies and omissions.