Search Results for Caracas

Venezuelan opposition leader Maria Corina Machado greets supporters at a protest ahead of the Friday inauguration of President Nicolas Maduro for his third term, in Caracas, Venezuela January 9, 2025.

What We're Watching

Venezuela briefly arrests opposition leader just ahead of Maduro inauguration

Regime forces violently detained Venezuelan opposition leader María Corina Machado as she left a rally in Caracas on Thursday, one day before strongman President Nicolás Maduro was set to begin his third term.

A demonstrator reacts when Molotov cocktails hit the ground in front of security forces during protests against election results after Venezuela's President Nicolas Maduro claimed victory in Sunday's presidential election, in Puerto La Cruz, Venezuela.

What We're Watching

Venezuelans take to the streets after Maduro claims victory

Thousands of Venezuelans descended on downtown Caracas Monday to protest strongman President Nicolás Maduro’s claimed victory in Sunday’s elections. Independent exit polls suggested that opposition candidate Edmundo González defeated Maduro — an authoritarian who has overseen economic decline in the oil-rich nation — by a sizable margin.

Industrial engineer and former lawmaker Maria Corina Machado holds up a Venezuelan flag as she reacts to the vote count after Venezuelans voted in a primary to choose a unity opposition candidate to face Venezuela's President Nicolas Maduro in his probable re-election bid in 2024, in Caracas, Venezuela October 23, 2023.

What We're Watching

Oil exports or no, Maduro won’t let Machado win

Just two weeks after sealing a historic election pact with the opposition, the Venezuelan government announced Monday that it would suspend “all effects” of opposition primaries, thereby jeopardizing a six-month pause of US sanctions on Caracas’ oil.

A graph comparing Venezuela's GDP per capita with the average price of crude oil.

News

The Graphic Truth: Economic turmoil in Venezuela

Venezuela has the world’s largest oil reserves but a combination of corruption, mismanagement, and tough US sanctions since the Maduro regime came to power in 2013 has meant that the petrostate has failed to benefit from its vast reserves of liquid gold.
While high oil prices under the Chavez regime in the early 2000s gave a boost to Venezuela’s middle class, US sanctions first imposed in 2006 – and significantly ramped up under the Obama and Trump administrations – have cut Caracas off from US financial systems.
Economic hardship is rife, with a staggering 50% of people living in extreme poverty. Pervasive hopelessness has also led to one of the worst migrant crises in the world.
In a bid to offset a global energy crisis in 2022 as a result of Russia’s war in Ukraine, the Biden administration began lifting some sanctions on the Venezuelan oil sector. So how are things faring? We look at GDP per capita and corresponding oil prices since 1999.

Rescuers work at a residential building heavily damaged by a Russian missile strike in Zaporizhzhia, Ukraine.

US & Canada

What We’re Watching: Russia’s Zaporizhzhia strikes, Washington-Caracas dealings, Canadian asylum challenge, Macron’s intimacy

Russian strike on Zaporizhzhia provokes anger and fear; the US might be ready to deal with Venezuela; US-Canada asylum deal under scrutiny; and Macron wants Europe to get frisky.

Hard Numbers: Biden’s big Taiwan mouth, foreign troops in Mozambique, Putin’s approval, unsold cars in Caracas

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Hard Numbers: Biden’s big Taiwan mouth, foreign troops in Mozambique, Putin’s approval, unsold cars in Caracas

For the second time, President Joe Biden has signaled that America would respond with military force to defend Taiwan if China invades.

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