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Trump's New Venezuela Sanctions Will Do More Harm Than Good


Trump's New Venezuela Sanctions Will Do More Harm Than Good

Mark Weisbrot

The Trump administration announced new, unprecedented sanctions against Venezuela on Friday that are designed to cut off financing to Venezuela. The Trump team pretends that the sanctions are only directed at the government. But as any economist knows, this is clearly false.


I hope BRICS and the Asian Infrastructure Investment Fund [Plan?], meant to be alternatives to the World Bank and IMF, can kick in, help real democracy flourish in Chavista Venezuela, and get the boot of American Capitalism off Venezuela’s neck.


Mark, I read the OAS charter section you reference with interest. Do you interpret it as ruling out any sanctions whatsoever among OAS members. Can you add any information on its background and legislative history? Could it be that it was forced on the others by a prior U.S. administration that wanted to head off sanctions against the Pinochet regime or any of the other Latin American tyrants of past decades? I agree that the new (and old, under Obama) sanctions on Venezuela were wrong and based on false allegations, but I would prefer to see them criticized because of that, not due to a purported international law bar on sanctions.


But Trump and his advisers may see it as less risky than some of the alternatives, such as North Korea, Iran or Syria

Kind of like Granada…