The Venezuelan economy has been in a ditch for a while now and things are only going to get worse as Trump recently signed an executive order imposing a new set of economic sanctions on the government. This is part of Trump’s effort to promote the removal of President Nicolás Maduro from office. With the new action, the assets and properties of the members of the Venezuelan government and all their sympathizers will be frozen until democracy is restored in the country.
Restoring Democracy In Venezuela
In line with the previous efforts to restore democracy in the country, members of the Trump administration including Wilbur Ross, and John R. Bolton will go to Venezuela for an international conference where they will discuss the restoration of democracy in the country.
In the executive order, Trump noted that Maduro is guilty of usurping power and abusing human rights of anyone who stood against him. He has also undermined the power of the National Assembly in Venezuela among other things. The interim President, Juan Guaidó has always been in Trump’s good graces. Following the election, he declared that Maduro is not the legitimate ruler but a usurper who used to the military to pursue selfish interest and retain power against the will of the people.
For now, it’s not clear how these sanctions will affect the Venezuelan economy but it is one in a series of sanctions that have been imposed on the country by Trump since he took office in 2016. Since the country’s economy is already in a bad state, more sanctions may make things worse.
Maduro, on the other hand, is not ready to give up his power and his declared himself as a brave survivor of America’s imperial influence on Venezuela, a supposedly sovereign state. He has been able to get a lot of supporters through this angle.