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Venezuela, in recent years, has been facing significant internal political instability, economic crisis, and international embargoes. The country, rich in oil resources, has experienced a severe downturn due to falling oil prices and poor governance. However, these challenges have not only remained as Venezuela’s internal affairs but have also become a complex part of international relations.
One of the main reasons Venezuela plays a significant role in the international arena is the impact of its oil reserves on the world economy. Since oil is a crucial part of the global economy, Venezuela’s situation in this field has become a significant factor in international economic relations. The country’s internal economic problems, fluctuations in oil prices, and production declines affect energy markets in regional countries and even globally. Therefore, Venezuela’s oil policies and economic situation directly affect international energy policies and trade.
Additionally, Venezuela’s internal political situation should be addressed in conjunction with regional instability and security concerns. The country’s internal conflicts and political crises threaten the overall stability of Latin America and affect its relations with other countries in the region. Particularly sensitive are Venezuela’s relations with its neighbor Colombia due to internal political situations and security concerns. This situation affects Venezuela’s claims to regional leadership and power balances, thus shaping its relations with other countries in the region.
This study will first examine the embargo experienced by Venezuela and its effects on the country. Then, a comparison will be made between Venezuela’s embargoes by the United States (US) and the Western bloc and those imposed on Iran and Russia. This comparative analysis will help understand Venezuela’s international isolation and the political purposes of the embargo. Additionally, similarities and differences between Venezuela’s internal political situation and foreign policy and those of Iran and Russia will be discussed. Furthermore, the impact of embargoes imposed on these countries on other countries’ embargoes will be discussed.
While examining Venezuela’s economic collapse and the effects of international embargoes on the country, this study will also consider the impact of this situation on Venezuela’s internal political dynamics and the living standards of its people. Moreover, the study will evaluate the role of embargoed Venezuela’s relations with other countries and particularly the assistance it receives from supporters such as Iran and Russia. This study is aimed at readers interested in understanding Venezuela’s internal and external challenges and assessing the country’s role in international relations. The impact of embargoes imposed by the US and the Western bloc on the three countries covered in this study is noteworthy.
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