New Bombshell study proves U.S. sanctions responsible for economic turmoil in Venezuela.
A new study shows the disastrous effects of United States sanctions on Venezuela.
A new study on the effects of sanctions on Venezuela by economist Francisco Rodríguez, who is a critic of Chavez, Maduro, and the Venezuelan government proves that United States sanctions played a massive part in Venezuela’s ecenomic crisis. The study also debunks many of the talking points made by empire apologists who try to minimize the impact of United States sanctions on the Venezuelan economy.
Some of the key findings of the study.
The study shows that the first time Venezuela’s oil production went down was when oil prices fell below $30 but the production continued to go down when the U.S. imposed financial sanctions in 2017 then down again in 2019 when the United States imposed oil sanctions and yet again in 2020 when the United States imposed sanctions on oil partners.
The study goes on to explain that other countries that were not sanctioned after the 2016 fall of oil prices such as Colombia, Mexico, and Argentina were able to recover after prices began to rise again in late 2016. The study contrasts this to Venezuela where 2017 sanctions made oil production go down again when it was beginning to recover.
The study addresses people who claim the underperformance of the Venezuelan oil industry began before the sanctions by explaining that joint ventures that contributed to economic growth between 2008 and 2015 were hit by the 2017-2020 era sanctions stopping growth.
The study debunks the claim that the post-2017 decline in oil production was unrelated to sanctions by showing that economists and oil analysts were predicting stabilization of oil output and ecenomic growth in 2017 before sanctions were imposed.
The study also debunks the claim that sanctions did not do damage because the government was already locked out of capital markets. The study debunks this claim by showing that the problem was not temporary loss to markets from solvency but the sanctions making it impossible to do anything about the solvency problem.
The study also shows that financial loss in Venezuela is comparable to that in countries during wartime showing that sanctions literally are an act of war.
All of this information proves that while there could have been problems in the Venezuelan economy it would have stabilized in 2017 had sanctions not been in place. This proves that United States sanctions are responsible for Venezuela's economic crisis.
How the mainstream media lied
This new information is huge not only because it shows the horrific effect of sanctions but also because it shows the mainstream media lied about the crisis in Venezuela to manufacture consent against the Maduro government. The Washington Post ran an article claiming that Venezuela’s economic collapse was because people have not reinvested in oil companies. The article did once mention the true cause: U.S. sanctions. The New York Times ran a similar article that tried to blame alleged corruption and economic mismanagement from Hugo Chavez and Nicolas Maduro for economic collapse in Venezuela again not once mentioning what we now know the main cause was. Reuters also tried to blame Venzuelas’s economic collapse on Maduro writing in 2019 that“economy that shrank 48% during the first five years of President Nicolas Maduro’s government,” again not mentioning that sanctions caused the economy to shrink.
This new information proves that the mainstream media was wrong to blame the government for Venezuela’s economic collapse and that the country would have been in much better shape had the United States not imposed crushing sanctions.