August 3, 2024

Sanctions hurt Venezuela economy, US government study says

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US sanctions have likely contributed to Venezuela’s economic deterioration and have caused obstacles for humanitarian workers, a study by a US government watchdog said Monday. The assessment by the Government Accountability Office, requested by Democratic lawmakers, comes as President Joe Biden looks set to fine-tune Venezuela policy but largely preserve his predecessor’s unsuccessful goal of toppling leftist leader Nicolas Maduro. “The US sanctions likely contributed to the decline of the Venezuelan economy, mainly by further limiting its revenue from crude oil exports,” the report said. Full Text-> France24

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