The Effects of US Sanctions in Venezuela

Abstract

Since 2014, the United States has been imposing sanctions on the Venezuelan government in an attempt to accomplish foreign policy goals that would be beneficial to its geopolitical interests in the region and help the Venezuelan people in the process. This research offers a comprehensive empirical analysis of these sanctions. It aims to identify the effects of US sanctions in Venezuela, as intended by the foreign policy goals of the United States, and to measure the effectiveness of sanctions in accomplishing these goals. Additionally, this research seeks to explain the geopolitical strategy of US sanctions as seen through the lens of geoeconomic theory. It will detail the US intensions of generating regime change, restoring democracy, and improving human rights in Venezuela. More specifically, it will reveal the role of sanctions in acting as a geopolitical tool to fulfill these intentions. Ultimately, the research will show how sanctions and companion policies are intended to improve the US-Venezuela relationship that has declined since the time of Hugo Chavez.