U.S. Issues Embargo on Venezuela ❌
Trump takes action
On Monday, President Trump issued an executive order that froze all Venezuelan assets. An attempt to force Venezuelan leader Nicolás Maduro out of office, the near-total embargo (sparing the private sector) is an escalation from already extensive U.S. measures against the country, and it is similar to the restrictions placed on Syria, Iran, Cuba, and North Korea.
The attempt to deny Maduro access to the global financial system has resulted in Venezuelan Bitcoin prices surging to all time highs. Further, concern has been raised regarding how the embargo may impact Venezuela’s ability to repay its debts to Russia and China, and the potential reaction from the two nations.
Support of the embargo view the United States’ actions as necessary pressure to place on Maduro. They highlight his corruption and their desire for leadership from Juan Guaidó, viewing the recent measure as another step in encouraging the government shift.
Opposition to the sanctions has been expressed from particularly Russia, China, Cuba and Iran. These nations are pessimistic that the embargoes, which seek to undermine Maduro, will legitimatize opposition leader Juan Guaidó’s declaration of presidential power. Other sources argue that the sanctions will worsen the nation's humanitarian crisis.
Where's the common ground?
At present, the conflict in Venezuela remains contentious: the U.S. government continues to back Guaidó as the country’s leader, despite Maduro’s refusal to relinquish power. However, as the economic and hunger crisis continues to directly impact Venezuelan citizens, both sides are ultimately aiming for political calm in the country.
An unfortunate reality
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