Intensified Economic Sanctions against Venezuela: Obstacles and Reaction
Revised Article:
Alright, bud, let's dive into the hot mess that is the preferential treatment dished out by the Trump administration to our mates across the border - Venezuela. Listen up, as we break down the consequences of those sanctions, what's being done to resist them, and where you can jump on the bandwagon if you fancy yourself an activist.
A webinar recently hosted by researcher Yosmer Arellán and Venezuelanalysis member Cira Pascual Marquina shed light on the thorny issue. There's no denying that sanctions are taking a toll on Venezuela, causing economic havoc to this South American country.
Now, here's a little fact-drop: Between January 2017 and December 2024, Venezuela lost oil revenue equal to 213% of its GDP, amounting to a whopping $226 billion. That loss is largely due to the sanctions, which have made it virtually impossible for the country to export oil like it used to.
To add fuel to the fire, recent sanctions have slashed oil exports by a dizzying 20%, pushing output down to 700,000 barrels per day in early 2025. This decline, exacerbated by geopolitical tensions and logistical issues, has drove Venezuela's oil-dependent economy to its knees, pushing inflation rates up the wazoo. In fact, in 2019, inter-annual inflation reached a staggering 344,510%, making life even more difficult for the average Jo especially when food and other essentials become impossible to afford.
But here's the silver lining: enter the Venezuela Solidarity Network (VSN). This fresh, new network of organizations and individuals based in North America is on a mission to defend Venezuela's independence against those pesky US government sanctions. Thought about joining the fight? Fill in this form: https://forms.gle/rLY74sYReCbndsvZ7
Keep in mind, though, that the views shared by the webinar speakers, Yosmer Arellán and Cira Pascual Marquina, are their own and don't necessarily reflect those of the Venezuelanalysis editorial staff.
As for the Venezuela Solidarity Network, while Google wasn't spillin' the beans about their current antics, solidarity networks like this one generally try to fight sanctions by advocating for their removal, raising awareness, supporting humanitarian aid, and helping Venezuela find alternative markets for its exports to make things a bit more balanced.
But enough of the technical jargon: join the VSN and help make a difference in the lives of those who are struggling. Let 'em know their fight ain't alone!
- The Venezuela Solidarity Network (VSN) is a newly formed network of organizations and individuals based in North America, working to defend Venezuela's independence against US government sanctions.
- The webinar hosted by researcher Yosmer Arellán and Venezuelanalysis member Cira Pascual Marquina illuminated the damaging impact of coercive sanctions on Venezuela, leading to economic hardship and inflation.
- Between January 2017 and December 2024, Venezuela lost oil revenue equivalent to 213% of its GDP, a staggering loss of $226 billion, primarily due to these sanctions restricting oil exports.
- To counteract these sanctions, the VSN advocates for their removal, raises awareness, supports humanitarian aid, and helps Venezuela find alternative markets for its exports, intending to achieve a more balanced economy.
- Recent policies and legislation surrounding war and conflicts, such as sanctions, have led to a 20% drop in oil exports, pushing output down to 700,000 barrels per day in early 2025, causing immense financial difficulties and inflation for the country.
- Venezuelanalysis is a platform that covers general news, policy and legislation, finance, banking and insurance, war and conflicts, politics, and industry, providing insights on various topics like the sanctions imposed on Venezuela and the efforts to combat them.
