US Sanctions Caused Thousands of Deaths in Venezuela, GAO Says

Venezuelan economy's performance has declined steadily for almost a decade since the imposition of U.S. sanctions in 2015.

By Telesur
Global Research, February 10, 2021
teleSUR 9 February 2021
Region: ,
Theme: ,

All Global Research articles can be read in 27 languages by activating the “Translate Website” drop down menu on the top banner of our home page (Desktop version).

***

U.S. Government Accountability Office (GAO) acknowledged that U.S. sanctions on Venezuela have killed tens of thousands of people and harmed the country’s economy, especially by depressing its oil production.

In a new report, GAO also recalled that the sanctions imposed on the country under former Barack Obama’s and Donald Trump’s administrations are also hindering U.S.-backed humanitarian aid to Venezuela.

The report “offers more evidence that the unilateral and illegal U.S. sanctions are a punishment against the Venezuelan people and they should be ended immediately,” Center for Economic and Policy Research (CEPR) Co-Director Mark Weisbrot said.

GAO noted that the financial sanctions imposed on Venezuela since 2015 led to a drop in oil production of 797 tons per day, which at current oil prices would represent US$16.9 billion per year in foregone oil revenues.

“This drop means fewer imports, including of food, medicines, medical equipment, and other health-related necessities,” Weisbrot added.

President Joe Biden ordered a review of U.S. economic sanctions on countries such as Venezuela, Iran, and Cuba to determine their humanitarian impact.

“This is positive. However, there is not much to assess. There is no reason to allow this crime from the Trump administration to continue,” the expert recalled.

*

Note to readers: please click the share buttons above or below. Forward this article to your email lists. Crosspost on your blog site, internet forums. etc.

Featured image: A group of children on their home’s rooftop in Petare, Venezuela, Dec. 20, 2021. | Photo: EFE
Articles by: Telesur

Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]

www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the copyright owner.

For media inquiries: [email protected]