Biden changes sanctions on Venezuela, but what have we really accomplished?

    Venezuela's economy has been in decline for since before Obama was elected. Their government has been plagued with corruption through Hugo Chavez's time in office and after his death in 2013. His successor Nicolas Maduro has also caused lots of controversy since taking control. His election wins had many allegations of fraud and is viewed as illegitimate by the United States and many others. Despite the huge economic struggles Maduro has held significant control over Venezuela with the support of Russia, China, and other foreign Powers. The United States supports Juan Guaido as the rightful president of Venezuela.

    During Trumps time as president he imposed harsh sanctions in a "maximum pressure" strategy. The hope was the Maduro regime would not be able to maintain control in this state, however with the help of Russia and China, Maduro was able to capitalize on certain opportunities Trumps policy created. Part of Trumps policy was to have US companies remove operations from Venezuela causing massive job loss, hurting the civilian population more than Maduro. In the energy sector especially Maduro was able to seize control of an oil company after French and Norway followed the US lead in leaving Venezuela. In response to such harsh measures from the United States, Maduro brought a case to the International Criminal Court in 2020 claiming they were a crime against humanity.

    Since taking office Biden has rolled back the "maximum pressure" policies and is attempting more targeted approach with his sanctions. The goal to remove Maduro from power has remained constant but now more consideration to the real impact is being taken. The United States is trying to remove Maduro because he has created a dire situation for the Venezuelan people, however if attempts to remove him can also hurt the Venezuelan people, careful attention must be paid to what really works and whether or not the consequences are greater than the benefits.

Links:

https://www.uschamber.com/series/above-the-fold/overhaul-of-us-sanctions-policy-toward-venezuela-long-overdue

https://www.laprensalatina.com/venezuela-asks-icc-to-probe-us-sanctions-as-crime-against-humanity/

https://www.nbcnews.com/think/opinion/biden-needs-assert-u-s-leadership-venezuela-maduro-exploits-negotiations-ncna1278382

https://www.reuters.com/article/us-venezuela-politics-support-factbox/guaido-vs-maduro-who-is-backing-whom-in-venezuela-idUSKCN1S62DY