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9 - US Economic and Financial Sanctions against the Bolivarian Republic of Venezuela

Published online by Cambridge University Press:  22 March 2025

Caf Dowlah
Caf Dowlah
Affiliation:
University of Miami Law School
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Summary

This chapter traces the evolution of US sanctions against Venezuela – a South American nation with once-positive relations that shifted during the presidency of Hugo Chavez in 1998. As Chavez aimed to reclaim control of the country’s oil industry from international capital, tensions escalated. The narrative spans eras, highlighting sanctions during Chavez’s tenure and their intensification under Nicholas Maduro from 2013. Delving into impacts, the chapter dissects their toll on Venezuela’s economy and citizens – economic downturn, steep decline in oil production, and critical shortages of food and medicine. Legal aspects are explored, scrutinizing international principles like necessity, proportionality, non-intervention, and judicial interventions that shape the sanctions’ legality.

Keywords

Sanctions against VenezuelaSanctions against Chavez regimeSanctions against Maduro governmentSanctions against Venezuela and international lawSanctions and exodus of Venezuelan population
Type
Chapter
Information
Economic and Financial Sanctions of the United States
Legal Perspectives
 , pp. 297 - 322
Publisher: Cambridge University Press
Print publication year: 2025

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