Been ongoing since the 2000s when Venezuelan people elected Hugo Chavez, a left-wing populist politician. He nationalized Venezuela’s oil industry and kicked the American oil extraction companies out so that Venezuela could sell their own oil and keep the money it generates. Since then the US has carried out an economic war on Venezuela with sanctions, embargoes, coup attempts and sporadic military action. This has resulted in extreme instability and poverty in Venezuela, and downstream of that it has increased government corruption and created a migrant crisis out of the country that has further exacerbated tensions between Venezuela and the US.
It’s worth noting the Chavez and Maduro admins have had a lot of people at PVDSA who have a lot of money that they should not have. There is clear corruption within the Venezuelan government so the nationalization wasn’t putting money in the pockets of your average citizen.
Been ongoing since the 2000s when Venezuelan people elected Hugo Chavez, a left-wing populist politician. He nationalized Venezuela’s oil industry and kicked the American oil extraction companies out so that Venezuela could sell their own oil and keep the money it generates. Since then the US has carried out an economic war on Venezuela with sanctions, embargoes, coup attempts and sporadic military action. This has resulted in extreme instability and poverty in Venezuela, and downstream of that it has increased government corruption and created a migrant crisis out of the country that has further exacerbated tensions between Venezuela and the US.
It’s worth noting the Chavez and Maduro admins have had a lot of people at PVDSA who have a lot of money that they should not have. There is clear corruption within the Venezuelan government so the nationalization wasn’t putting money in the pockets of your average citizen.