EFE
Economic sanctions against Venezuela were primarily driven by the United States from 2015 and intensified between 2017 and 2019, with measures that blocked the state's access to financial markets, restricted debt, and targeted the heart of the economy: oil. This week, interim president Delcy Rodríguez reiterated the call for a 'pilgrimage' against sanctions that will tour the country from April 19 to May 1, when it will arrive in Caracas, an initiative that joins other calls from Chavismo to demand the lifting of these measures.
TL;DR
- US-led economic sanctions against Venezuela began in 2015 and were intensified between 2017 and 2019.
- Sanctions targeted Venezuela's access to financial markets, debt, and primarily its oil sector.
- The US, EU, Canada, Switzerland, and the UK have been key implementers of these measures.
- The Venezuelan government estimates over $230 billion was lost in the oil sector due to sanctions.
- Recent shifts by the US government have included partial easing of financial restrictions and authorization for foreign companies to operate in the energy sector.
- The EU is considering adjusting its sanctions policy, with Spain proposing the removal of individual sanctions against Delcy Rodríguez.
- Despite some relief, significant state assets, including gold reserves and Citgo assets, remain frozen.
- Individual sanctions against members of the Chavista elite continue.