Domestic politics in the United States may influence the final decision on whether to sanction Venezuela's oil sector. Sens. John Cornyn of Texas, Bill Cassidy of Louisiana and Thad Cochran and Roger Wicker, both of Mississippi, sent a letter to President Donald Trump on Aug. 10 to urge him not to sanction Venezuela's oil sector. The letter said that U.S. Gulf Coast refiners could face “major losses” from sanctions against Venezuela's oil industry. The senators also warned that the sanctions could drive Venezuela politically closer to Russia and China. The senators' opposition to sanctions probably stems from short-term political and economic concerns. For the U.S. economy, the longer-term impact of an import ban on Venezuelan oil would be minimal. Venezuela accounts for about 7 percent of U.S. oil imports, and the United States could make up the loss of Venezuelan imports from elsewhere.