Imposing Sanctions on Venezuela Will Only Make Things Worse

The Trump administration is considering imposing sanctions on Venezuela by blocking their oil from U.S. ports. Likewise, UN ambassador Nikki Haley criticized the regime of Nicolas Maduro, and confirmed that oil sanctions “are not off the table.” This is tactical escalation: last month President Trump advocated for a more finely-targeted approach by limiting Venezuela’s access to American financial institutions, now oil is in the crosshairs. This is regrettable: sanctions on Venezuelan oil will likely do more harm than good, and will punish the wrong people. To be clear: Venezuela is a horrible place to live, and the government is solely to blame. Their corruption, incompetence, and ideological fervor has transformed South America’s richest economy into a poverty-stricken backwater. Against all the odds, the socialist government has managed to create starvation in a land of rich soils and year-round growing seasons- -people are literally breaking into zoos to...(Read Full Article)