This week, the United States Treasury Department placed sanctions on three Venezuelans – Pedro Martin, Walter Del Nogal, and Mario Rodriguez – under the Foreign Narcotics Kingpin Designation Act. The move comes less than two weeks before presidential elections are scheduled in Venezuela.
After failing to receive the appropriate economic information from the Venezuelan government, the International Monetary Fund (IMF) issued a declaration of censure against Venezuela.
In a recent declaration, the European Union announced that it would take “appropriate measures” to support “peaceful and democratic solutions” in Venezuela. Such measures could possibly include additional sanctions on the regime of President Nicolás Maduro.
Chile announced a “democratic responsibility visa” for Venezuelans. The move comes as more and more Venezuelans are fleeing their country.
Venezuela oil production fell last month as global oil prices continue to rise, according to OPEC’s April report. Other nations in the region like Brazil and Guyana are taking advantage of higher energy prices by investing in new offshore production.
The economic crisis in Venezuela has forced thousands to leave the struggling South American country in what has become a migration crisis. The exodus has caused particular strain for Venezuela’s neighbors, Colombia and Brazil. While most migrants continue to face… Read More ›
Venezuela will re-denominate the bolívar this summer by removing three zeros from its highly devalued currency. Hyperinflation in Venezuela has exacerbated one of the most severe economic crisis in the history of the Americas. President Nicolás Maduro announced last week that the… Read More ›