US imposes sanctions on Venezuela

In 2018, the US intensified sanctions against Venezuela: banning oil sales to the US, restricting gold mining, and imposing a ban on purchasing new government bonds. The country's economy suffered, private inflation reached 1,300,000%, oil exports dropped from 3–4 million barrels per day to 900,000, and nearly all foreign revenue went to China.

In 2019, secondary sanctions were introduced, causing foreign companies to fear trading with Venezuela. A full oil embargo made it impossible to purchase fuel from the US, leading to mass migration: over 5 million people left the country.

In 2020, sanctions were further tightened regarding gold mining and other resources, resulting in a blockade of oil exports and a drop in production. In 2021, financial pressure continued, blocking all communication channels and tightening rules on gold.

In 2025, an open blockade was announced: seizing and destroying ships violating sanctions. In 2026, an invasion occurred, resulting in the capture and removal of President Maduro, followed by the deaths of nearly 100 people. According to Venezuela's defense minister, US troops killed security personnel, including women and civilians.

Critics argue that this is not sanctions, but a war for resources. "Plain Policy" continues to analyze the development of events.

Context

US sanctions against Venezuela began at the end of 2017 after Congress passed a resolution blocking transactions with the state-owned enterprise PDVSA.