HOW SANCTIONS STRANGLE VENEZUELA

We often hear Venezuela’s economic crisis being blamed on 'corruption and mismanagement.' What we don’t hear is the devastating impact US sanctions have had on the country.

In this clip, former US National Security Advisor, John Bolton, announces measures designed to cost Venezuela billions of dollars. And they're just a few of the steps the West has taken to collapse the economy and force 'regime change'.

The first round of sanctions went into effect under the Barack Obama administration in 2015; Donald Trump added more in 2017 before turning up the dial again in 2019. The measures include an embargo on the oil industry, Venezuela’s most significant source of revenue. Washington has also grabbed Venezuelan national assets such as Citgo, a U.S.-based oil refining, transportation and marketing company valued at $13-billion.

These measures have significantly shrunk the national coffers, making it nearly impossible to provide essential services such as health and food.

According to former UN Special Rapporteur Alfred de Zayas, the sanctions have led to the deaths of more 100,000 people between 2017 and 2020.