Venezuela: Resistance or disintegration?

[Alejo]

As I see it, the situation in Venezuela is complex and does not help the cause of resistance against the USA.

I just heard Assad on an interview said: "the situation in Venezuela is similar to that one in Syria, the us is behind it all". The only difference I can see is that in Syria the people seems to truly love their country and independence. The opposition is fractional compared to the approval of their president. In hardship, people seem recognize the origin and create a real resistance that is more mental than anything.

In Venezuela, due to the hardship, people don't seem to mind jumping from one side to the other (officialsm - opposition) as their belt grows tighter and tighter. People will support an ideology so long as they're able to make ends meat. If they're unable to feed themselves or their families they'll jump ship in no time. Specially if they're being told that it's the governments fault.

Is the situation in Venezuela like the one in Syria? Yes and no, perhaps due to the population being different. I also feel as though the ruling class in Venezuela do have a cling to power for power's sake and that is their weakness. In Syria there's more of an existential threat being recognized and faced. In Venezuela (much like in the rest of Latin America) they can't recognize the threat because they can't find their own identity, Latin American countries have for centuries found their identity elsewhere (Europe, USA, USSR). So maybe that's where both situations differ greatly. I don't know.

It is ultimately sad because either way things go, Venezuela will either remain in misery (unless they find a way out without regime change) or there will be a regime change which will give the country back to the us landlords.

 

[irjO]

Sincerely, after knowing the interventionist history of the US and its allies, especially in Venezuela, it is easy to determine that much of the chaos is generated by the opposition group, the so-called peaceful protests are not so much. Within these protests they introduce groups of young people who attacks the public forces, to generate chaos and these public forces obviously respond (not in the best way btw) and from here you see the photos that the Venezuelans are being attacked, that the army is killing the citizens etc. the same old story.

Now, the other part, Maduro has a poor, ego-speaking speech, he jokes when he does not have to and clearly he doesn't prepare himself when he communicates to the country. The actions of the supreme court of justice in wanting to disqualify the national assembly (the country's congress) was a total mistake, to want to act with the same ego to leave the OAS is another fatal error (although we all know that these organizations do not work) But that will end up isolating Venezuela much more, and thus the population ends up affected.

The population is completely blind and fanatical on both sides and the rational thinking has largely been lost. Anyone within the country can easily be deceived by one faction or another. And frankly it is understandable, after so many years of constant attacks.
I believe that Venezuela is already at a level where there is really no one who can do something positive in the short term, even if the government change and someone smart and who really wants to do good comes to power, it would pass a long time for Venezuela to become a relatively stable country economically and politically speaking.

Responding to your question Alejo, Venezuela has been disintegrating after Chávez very quickly. Well, it's my opinion as a Venezuelan.

Here we are all witnesses of the other method of war of the West against a country, a not-military war, but it is with the other "weapons" (economy and the media). And you have its results. And maybe thinking about it, Venezuela could it been in some way an experiment of it all these years.

 

[Alana]

I am far from Venezoula, but what Chavez did for his country is extremely inspiring to me, and I followed the story for years. Thus, the country and its people, with all the suffering they had/have to go through, are always in my heart. So if I have a blind spot, this is where it comes from, because the idea of people losing faith in the only power in Venezuela that cares for the people, pains me.

No, Maduro is not Chavez, no person is like another, but didn't Maduro work alongside Chavez? Wasn't he part of the team that worked hard and for so many years to take some of the powers and the resources and give it back to their people despite the constant, unrelenting, insanly unjust attacks from the US? A US that is spending fortunes every year in order to infliltrate and regime-change through empowering the opposition, the same opposition that works against the real needs and interest of the people of Venezuela? Frankly, if I was on a raft in the sea surrounded by blood-hungry sharks, I think I would be excessively paranoid myself about the intentions of said sharks regarding my fate.

I am sure Maduro made some mistakes, like Chavez did, but I think that all the Venezouelans and all the rest of the world with eyes to see should rally behind him and support him in any way possible, especially when he seems weaker, because if the opposition ever takes the power reins in the country, Adios Venezuela.

 

[Cosmos]

[...]The only difference I can see is that in Syria the people seems to truly love their country and independence.[...]
Is the situation in Venezuela like the one in Syria? Yes and no, perhaps due to the population being different. [...]

Strange as it may sound, but I think in certain respects Syria is currently handling their chaos better then Venezuela. In Syria, it has not reached the point yet, in which a strong leader has been removed from power from the outside. In Venezuela this has already happened and this often seems to mark a strong decline of the country as a whole.

I think the country history might also play a role in how things develop and how strong a population can be. Syria has a pretty coherent national history that dates back several thousands years, with costums and rites that still bind a lot of people together from ancient history, despite of other views on religion for example. Venezuela on the other hand is a very new country compared to Syria, in which no such deep and strong roots from history exist.

And of course Syria has the enormous gift of russia backing their rights and sovereignty directly, because they officially asked for it. I'm fairly certain that Assad and Putin and Co. will leave their mark in that country, no matter what happens. They are already viewed by large portions of the country as heros (and that rightfully so) and this will remain so for generations to come, no matter what happens.

 

[angelburst29]

As I see it, the situation in Venezuela is complex and does not help the cause of resistance against the USA.

I just heard Assad on an interview said: "the situation in Venezuela is similar to that one in Syria, the us is behind it all". The only difference I can see is that in Syria the people seems to truly love their country and independence. The opposition is fractional compared to the approval of their president. In hardship, people seem recognize the origin and create a real resistance that is more mental than anything.

I think, Assad has made a valid point. U.S. intervention in both Syria and Venezuela is mainly due to their Countries oil and gas deposits. Remember, the American dollar is said to be backed by the "Petro-dollar" meaning oil reserves and to a lesser extent - natural gas.

The big difference between Venezuela and Syria, is that "Venezuela has the largest oil reserves in the world.”

This article is mainly about the U.S.'s North Dakota Pipeline and an activist speaking at the U.N. in Geneva, Switzerland but I would like to quote a few sentences because of what she had to say about Venezuela. https://venezuelanalysis.com/news/12613

The North Dakota pipeline is linked to North American companies and the U.S. government's “crushing Venezuela” as they seek dirty oil extraction locally instead of doing business with the South American country that has the largest oil reserves in the world, longtime Native American activist Winona LaDuke said Sunday.

“You know, all of the catastrophes that are happening elsewhere in the world have to do with the fact that North America is retooling its infrastructure,” the executive director of the group Honor the Earth, told Democracy Now this week.

Speaking from the protests at Standing Rock, she added that in order to do that, major oil companies in the U.S. as well as the government are “going after the dirtiest oil in the world—the tar sands oil and the oil out of North Dakota, the fracked oil … it also has to do with crushing Venezuela, because Venezuela has the largest oil reserves in the world.”

Referring to the controversial pipeline as a “filthy infrastructure," LaDuke said the push to fracking in North Dakota and other places in North America had it at its heart a policy of boycotting Venezuela due to its resistance to U.S. and Western interests.

The activist highlighted the inequality the pipeline brings with it as poor local communities struggle while billions are spent for building the infrastructure.

This is what the U.S. does not want ...

Venezuela eyes pipeline project to export crude oil to China via Colombia
http://www.bnamericas.com/news/oilandgas/venezuela-eyes-pipeline-project-to-export-crude-oil-to-china-via-colombia

Monday, August 5, 2013 - A joint pipeline project between Colombia, Venezuela and China to export oil to Asian markets was discussed at a recent diplomatic summit between the two South American nations.

The pipeline would transport 300,000b/d of crude oil through the Orinoco belt to Colombia's Pacific coast from where it would be shipped to the Far East, according to a press release by Venezuelan state oil company PDVSA.

In related news, Venezuela will resume fuel shipments to Colombia mid-August, according to comments made after the summit by PDVSA president and energy and mining minister Rafael Ramirez.

This is what the Organization of American States (OAS) is trying to prevent - the completion of this joint pipeline project. Maduro just started the immediate pullout from the OAS. The profits from this pipeline agreement between Colombia, Venezuela and China would help reverse the economic and financial situation in Venezuela.

In my view, Maduro should be given credit for standing up to the U.S. and preventing Venezuela from turning into another Libya?

 

[Alejo]

I'm completely with you Alana, the bolivarian revolution holds such a special place in my heart. It has been truly inspiring, and it's interesting what you mention Pashalis about the millennia old tradition and heritage. Because when Chavez became popular (himself descendant from indigenous peoples) that was one of his platforms, South American roots had been cut and everyone lost their memory to where they actually come from. Which is why it was always so easy for everyone to sell their country out.

Which was also the platform that would send Correa in Ecuador to power and Evo Morales in Bolivia to power.

And to the point of angelbusdt29, it would be interesting to see a pipeline provide oil to China, however the least likely ally of Venezuela in this endeavor would be Colombia. They're the origin of most of the attack she has experienced. And the US' biggest and longest standing ally in the region.

Funny enough, the OAS was founded in Bogotá - Colombia in 1948 and was part of the Macarthyism era of the post WWII world, and funny enough, one of the only popular leaders in Colombia who fought for the rights of the people against the yoke of interventionsim (Jorge Eliecer Gaitan, who himself has a very interesting history, probably for another post) was assasinated the very same day (many claim by the CIA under operation pantomima), sending colombia into their decades old war (against supposed Marxist guerrillas) that would, of course, polarize the country to the right aligning it with the US perpetually.

I could be wrong, but pulling out of the OAS (a process that takes 24 months) would do very little to protect Venezuela. Specially when they are already calling on emergency meetings to address the Venezuela situation. It has been on the mouths of all the leaders for months to implement something called the "democratic charter" which apparently allows for foreign intervention in any of the member states. And we all know who's just so ready to democratize Venezuela. Even if Venezuela initiates the process, it may be too little to late. I hope I'm wrong

I hope I'm not coming across as a contrary for the sake of being contrary, I actually mean to have a discussion as I don't feel objective about this issue, because is so close to home and because I would absolutely hate seeing Venezuela become the next Lybia.

 

[Corvus]

From the angle I see it that saying " it is the economy, stupid" comes to mind. I do not think there is much difference between Maduro and Chavez governing skills in that matter, just that Chavez had more better reputation because of suceeding with revolution, and while still under more of political pressure he was not under such economical pressure as Maduro.

The main internal economic problems were not having enough of domestic production, depending mostly on imports that were bought with oil money, everything was based only on selling oil. And that was still policy under Chavez, and there was also sabotage with those domestic western oriented buisnessmen. Chavez did not clean the house completely in that regard and in regard to opposition based media so to show their propaganda, and to show tolerance and rise his popularity in that way, and minimaze western demonisation and maybe intervention without going full blown against them. Good while having major support, that is mostly most people having full belly, dangerous when that belly is empty. You have to take into account that many people are not interested in freedoms, equality but better quality life for themselves and when that is taken propaganda starts to fall on fertile ground(Remember Nazi Germany) and most are not educated in how things work. Problem of US intervention could be solved with few russian or chinese bases in my opinion, so the western media could cry about totalitarian venezuelan regime as much as they like.

Difference being between Syria and Venezuela, that Syria was much more longer independent from western influence and economicaly more developed because of that, and because of that there was no strong 5th column, while Venezuela until fairly recently was under US puppets and thus poor and plundered country, it s stability not yet achieved while showing much progress under Chavez, 5th column being present as said earlier. So it was like that until PTB s three flies with one strike attempt with oil prices because of Russia when economic model showed it flaws.

In the present situation I do not see any coming stability and calm, domestic economy could get stable with chinese investment and russian help but it would need new economy direction to stop situations like now, that is developing strong domestic production that is not based only on oil, but it would need years to implement fully not mentioning internal and external meddling. But, I do not see that happening, and the only way for Maduro now to keep revolution alive is only through repression and he has nothing to lose because PTB is in high gear now because they smell the weakness, or like they say get the beast while it is wounded. Jailing up that opposition and censoring their media, 5th colmunist generals and police ranks is his only option, but that could fuel propaganda and lead to US intervention if there is no asking for outside help, if it can also arrive in time if it is asked (because it will give image of weaker leader), and if doing nothing there is a risk of being toppled and revolution dieing, so he is either way between hard place and the rock. It is always easy to play armchair general until you get in such a situation and know all the variables and factors involved which we do not.

 

[msante]

I am far from Venezoula, but what Chavez did for his country is extremely inspiring to me, and I followed the story for years. Thus, the country and its people, with all the suffering they had/have to go through, are always in my heart. So if I have a blind spot, this is where it comes from, because the idea of people losing faith in the only power in Venezuela that cares for the people, pains me.

Alana, I share with you the same feelings. In the firsts years of Chavez I felt really the birth of a new hope, a new way of to do politics, for people and with people. In some way I felt then that that revolution would resonate in the rest LA, but I am sorry to say this: IMO that revolution, his values and principles, are almost missing nowadays...

From my standpoint, Chavez gave the Venezuelan people the first real hope that things might change there, for a long time. The empire, not liking it at all of course, had to get rid of Chavez in one way or the other. They succeeded with it and now Venezuela is tumbling down again and it seems pretty drastically. Maduro became Chavez successor and was confronted with a lot of that chaos. Not an easy situation, if we assume that Maduro is a fairly decent person.

Well, this (bold text) seems to be one of the points of controversy. I know that I can be polemical here and that maybe what I will say can sounds bad for many, but today, at light of what I have seen during last 3 or 4 years and from the testimony of friends living there, I have serious doub about decency of Maduro and some of his team members. Of course I am nobody to say if he is or not, but really we do not know if it is the case. I think that to say that someone is a decent man he should behave as a decent man. Just because Chavez (who really showed a decent behavior) in some way choosed Maduro as successor, it do not warraty us that Maduro per se be a decent person. It is true that he took Chavez's legacy but IMO from the begining Maduro gave signals of a sort of lack of skills as politician (thinking in terms of a good politician, someone that know to do and not just to talk), althoug I know, it is not enough to affirm that, to know someone is not a decent man.

But with the time became more and more clear for me that the government of Maduro begun to draw a behavior toward citizens that IMO was an alarm. Beyond to be hard with oppositors (what IMO it is not necessarily a mistake per se), his acts went oriented mainly to reward allies (socialist militants) and to punish anyone who had a dissenting voice, some observation to say, or criticism. He did not seems to distinguish between a classic opponent (neo-liberal/oligarquic US lover) and a common citizen who simply thought a little different.

With the pass of the time my impression is that for rulers of Venezuela there is 2 possibles choices for citizens: you are with me or you are against me. Maduro (the government) IMO today (and at least for the last 2 years I think) do not hear the people (not the oppositors, the rest of people), their needs, their complains,... What I have seen the last years is that Maduro only has a beatiful speech about what bad it is the Empire, the socialist ideals, the Bolivarian Revolution,... but all this for me sounds rather like a allegation to justify their lack of skill to rule.

I know, the outside attacks existed and exist (maybe today stronger than never). Also I know that to rule a country in that conditions could be virutually impossible, but honestly I am not convinced that this is the case here. Maybe it is part of the problem, but IMO not the complete picture. I'd like to belive that what it is happen in Venezuela is just the unfair defeat of a pure and genuine popular revolution, 100% consequence of the "bad guys", but really I do not feel so.

 

[Alana]

I hear what you are saying msante, but I still don't understand what you think the options are for the people of Venezouela at the moment, or what do you think Maduro should do that he is not doing, or what he does that he shouldn't. Maybe we can come up with some ideas and sent a letter to Maduro, not as representatives of the forum or sott, but as individuals who wish to see Venezouela prosper for her people?

I guess one can call Erdogan a tyrannical dictator, putting in jail daily people who oppose his policies too, in his attempt to clean his country of those external and internal harmful influences. It is also the same reason Putin is viewed as such by most of the world, but he did clean quite well, and look at Russia now.

I also understand that poverty and hunger can turn people away from noble causes and make them want to end the situation they are in by whatever means, but again, we come back to the question: what is the alternative for them?

 

[msante]

I hear what you are saying msante, but I still don't understand what you think the options are for the people of Venezouela at the moment, or what do you think Maduro should do that he is not doing, or what he does that he shouldn't. Maybe we can come up with some ideas and sent a letter to Maduro, not as representatives of the forum or sott, but as individuals who wish to see Venezouela prosper for her people?

I guess one can call Erdogan a tyrannical dictator, putting in jail daily people who oppose his policies too, in his attempt to clean his country of those external and internal harmful influences. It is also the same reason Putin is viewed as such by most of the world, but he did clean quite well, and look at Russia now.

I also understand that poverty and hunger can turn people away from noble causes and make them want to end the situation they are in by whatever means, but again, we come back to the question: what is the alternative for them?

Well, I understand your point, Alana, and I'd like to think that Maduro is (and was ever) without options, but really (humbly) I don't think so. I know that my point of view maybe sounds a little arrogant, but actually I can not see what it is happen in Venezuela in another way. Maybe I am wrong and I am being inflexible and hard judging him, but I review again and again and I feel exactly the same: Maduro is part of the detruction of the revolution, althouhg I can say nothing objetive about his inner intentions or awareness.

I will try to put my observations schematically:

- For the government there is 2 types of people, those who are in favor and those who are against. IMO the president should be the president of every Venezuelan, not just of those that are militants. There is many testimonies from normal people, not oppositors, that was censured or pursued just for not to be tune with the Party.

- Many friends of government were put in critical positions at the head of important state-owned enterprises without knowledge and experience, just for affinity. And many of them (if not most of them) became enriched outrageously.

- All kind of priviledges were deployed to friends, relatives, and actives militants. The normal people (I repeat, not just oppositors) saw this with anger and a feeling of injustice was growing in them over time.

- With the pass of the time, with the accumulation of anger, and with the increasing difficults to live for normal people, the oppositors were growing in numbers. So the originals oppositors (likely they were a small number at the begining) were growing in strength, and in consecuence also were benefited US and his agenda.

- With this increasing situation every day more difficult for the government, they begun to become aware that an election would be their perdition. So they started to break slowly but at a steady pace the democratic institutions. I know, Democracy can be a mortal trap in this kind of situations but I think that in this crazy world one sometimes must accept certain rules to survive. Also I understand that can have occassions where a institucional hit can be the last and only resource, but IMO Maduro was far away of this situation. I suspect that his motivations was more in line with a huge fear of losing government.

- First the Judiciary was co-opted by the Executive Branch. Many judicial decisions were controversial and many people (common people) felt that those were traps and tricks to keep the power (whether it was so or not).

- Next the congress was canceled using ridiculous excuses. IMO in front of people you can not just "close" the congress because you are minórity.

- Maduro canceled Governors' elections in 2016 also with ridicolous excuses apparently just because he knew that they would lost elections.

- Despide this, if all this had been accompanied with a improve in the life of people, I think that Maduro, maybe still having broken the democratic institutions, would have been supported by the people, but while all this was in development, the people just was witness of growing difficults to live, injustice, a censorship device every time stronger, and speechs,... the laaaarge speechs with a boring rhetoric about the "bad guys", always projecting guilt toward outside,...

Finally, in the circumstances in which we live, what is what legitimizes a government? ... In principle the popular vote, the will of the people. Once the government is at the head of the state, there is a constitutional contract with the people for that government to fulfill its mandate. But it is essential to have the will of the people and popular support to be able to govern. The reality is that today, if there were elections, it is likely that Maduro lost. So Maduro today do not have the support of the people.

I think that sometimes one must to know when it is time to withdraw to gain new strength. IMHO Maduro did not know when and how to do it, and that mistake will be paid not only by Venezuela, but by several LA countries. I believe that for many people, for years, the only image they will have of the Revolution will be the current picture: violence, lies, propaganda, chaos, ... Sadly I fear that for a long time people will not want another revolution.

NOTE: I hope that my english will be understandable...

 

[Galaxia2002]

My hypothesis of what has been happening from long time ago in my country is that this government has an important number of psychos or ponerized people in highly positions or a few highly influential ones. It seems as if maduro was rounded by this kind of people because as Lobatchewsky said in Ponerology, the original ideology of the party become distorted until a point which what they claim could resemble the original settlements, but the facts said in many cases the contrary, specially in maduro's government.

An indication of this, could be the declarations of Diosdado Cabello, a prominent Official, who has been state governor, former president of the national assembly and has held various political positions. It is very near to maduro and the military (he is an ex-military).

http://www.elimpulso.com/noticias/nacionales/cabello-chavez-era-el-muro-de-contencion-de-esas-ideas-locas-que-se-nos-ocurren

Translation

Diosdado Cabello, president of the National Assembly, said this Saturday that Hugo Chávez was the one who stopped the crazy ideas of the revolution. (note mine: what is a crazy idea of the revolution, a so abstract concept?)

"He was the wall of contention for many of those crazy ideas that come from us. He imposed his leadership, his prudence and his conscience and prevented us from acting on many occasions with these crazy ideas of ours, "said Cabello, who during the Youth Peacebuilder conversation held in Maracay.

"In the revolution the sane is Commander Chavez, who has taught us. We have tried to learn from him, "added the president of the AN.

So what seems to be happens currently is that those crazy ideas are what we are seeing in play right now.

Another trait that points in that direction is a terrible decline in the functioning of nearly any institution, as was also described in ponerology. It seems from an outside view as something made on purpose. That declination is not only monetary (which is understable), but moral and technical. Example of the latter, is PDVSA (Venezuela petroleum company) which has near all its refinery stopped in the country, and some of them are working with 30 % of capacity because lack of maintenance. The government had to import gasoline, months ago. This is really absurd in a oil producer country that at the beginning of Chavez and governments after him covered all the domestic demand.

I know that this country is desired by the imperial governments and they are working hard in that, but the measures taken by maduro and they ministers., seems to speed up the inner chaos, giving more excuses to the enemy to intervene and people to get angry. Things could have been different if appropriate measures had been taken in the past, but maduros's government do not listen to anyone's advice. So the first thing that maduro should be is to clean his own inner enemies that made him to take absurd measures, but I think he can't , and to listen, and to throw that stupid pride out to the bin.

So I don't share that the violence comes exclusively from the opposition because in this conditions is natural that violence arise form any angry citizen and this could be encouraged and used by inner and outer factors.

I suspect the government are shuffling the possibility to accelerate a state of general commotion of the republic, in which, according to the constitution, all elections and guarantees can be suspended legally, In this way they would have a constitutional backup to avoid elections (suspended from the last year) for indefinite time and to have a lot of control (that would be a fatal error in my opinion because is not sustainable over time).

edit: misspelling

 

[angelburst29]

Maduro became Chavez successor

Is there an individual in politics - that the Venezuela people would rather have in Maduro's position (as President) - that would work towards their well being and interests? If Maduro is not working for his people, he needs to be replaced.

 

[mabar]

So I don't share that the violence comes exclusively from the opposition because in this conditions is natural that violence arise form any angry citizen and this could be encouraged and used by inner and outer factors.

I just read an article about Venezuela, (Business is Business, The lucrative company of being the opposition in Venezuela) https://actualidad.rt.com/actualidad/237251-negocios-lucrativa-empresa-oposicion-venezuela --in spanish ...

...enough with what the so called revolution did not erased at all practices that usually are not visible, so like the Deep State in USA, other countries have similar, at different degree, I think ... such forces have the upper hand and people (us) are just tiny particles, in theory tiny particles can be overcome greatest threats, but it needs unity, as the case of Sirya -I would like to think- in Venezuela, unfortunately, the forces that are creating division seem to be winning...

Maduro became Chavez successor

Is there an individual in politics - that the Venezuela people would rather have in Maduro's position (as President) - that would work towards their well being and interests? If Maduro is not working for his people, he needs to be replaced.

But not always the "son-Maduro" behaves like the "father-Chavez", and to be replaced, that would be another problem, opposition would and will present themselves as their saviour, but most probably, they are just follow their interest/business ...

 

[Galaxia2002]

Maduro became Chavez successor

Is there an individual in politics - that the Venezuela people would rather have in Maduro's position (as President) - that would work towards their well being and interests? If Maduro is not working for his people, he needs to be replaced.

It is not visible at the moment, and there are factors whose task is "cut heads" of those who try to project themselves as possible candidates for president for chavism or opposition. On the other hand, if a candidate for replace maduro from the same government is set in scene, his chances for win an election are really low, since chavism has now 15- 20 % of popularity.

 

[angelburst29]

Venezuela's President Nicolas Maduro has ordered on Monday another 60-percent increase in minimum wages amid ongoing crisis, which would benefit government workers and the military, media reported.

Venezuela's President Orders 60% Increase in Minimum Wages Amid Crisis
https://sputniknews.com/latam/201705011053169590-venezuela-maduro-minimum-wages/

According to the BBC, the least-paid workers would receive now about 200,000 bolivars, which is $20,000 in accordance with official exchange rate and $50 at black market rate, apart of food substances.

This is the third increase of minimal wages since the beginning of the year.

In January 2016, Maduro declared an economic emergency in Venezuela. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years, while up to 96 percent of Venezuela’s budget depends on oil revenues. In February, Venezuela's annual inflation rate passed the historic 2015 rate of 180-percent.

According to the International Monetary Fund, 2017 inflation rate in Venezuela could hit 720 percent.

​Drastic economic situation in the country triggered mass protests, with people demanding Maduro's resignation.

Most recent massive protests flared up in Venezuela in April after its Supreme Court tried to take over legislative powers from the opposition-controlled National Assembly. The top court reversed the ruling but this did not prevent demonstrations from taking place across the country. They have claimed 28 lives since the beginning of this month.