Punishing Civilians: U.S. Sanctions on Venezuela

Abstract

This article analyzes the consequences of the economic sanctions imposed on Venezuela by the U.S. government since August of 2017. The authors find that most of the impact of these sanctions has not been on the government but on the civilian population. The sanctions reduced the public’s caloric intake, increased disease and mortality (for both adults and infants), and displaced millions of Venezuelans who fled the country as a result of the worsening economic depression and hyperinflation. They made it nearly impossible to stabilize Venezuela’s economic crisis. These impacts disproportionately harmed the poorest and most vulnerable Venezuelans.

Additional information

Notes on contributors

Mark Weisbrot

Mark Weisbrot is Co-Director at the Center for Economic and Policy Research (CEPR).

Jeffrey Sachs

Jeffrey Sachs is a Professor of Economics and Director of the Center for Sustainable Development at Columbia University.