Again, this super simplistic. If you don't think sanctions hurt an economy, I don't know what to tell you. And as far as the oil industry, it was basically deciding between nationalizing and keeping the profits in Venezuela, or not nationalizing and having the profits go to shareholders in America and Europe. Nobody is saying Venezuela has handled it perfectly, but to dismiss the other factors and to be nothing more than the parrot squawking "socialism bad, socialism bad" is simply ignorance.
Um, sanctions only were applied recently. You do know that right? VZ has had an economy in ruin for years now, inflation for years, people falling into poverty, hyperinflation since roughly 2013, etc
Socialism is bad. And it's directly to blame for VZ having a resource rich country and somehow creating an economy that is in shambles, with 3.4M people having already fled the country due to absolute poverty and despair.
This stops at 2016 but incredibly, inflation has only gotten WORSE since this graph was published. US sanctions on oil only started in early 2019.
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