Are Sanctions Working in Venezuela?
As the humanitarian crisis in Venezuela continues to deteriorate, a debate has risen among policymakers as to whether or not sanctions may be worsening conditions for Venezuelan citizens.
While the United States, the Lima Group, the European Union, and other like-minded nations continue to increase pressure on the regime of Nicolás Maduro with diplomatic measures such as challenging his government’s legitimacy, the question remains as to whether sanctions are an effective measure for changing the behavior of the Venezuelan regime and pushing Maduro to step down. Despite external support by Russia, Cuba, China, and a few other countries, Maduro is more alienated on the world stage than ever before. However, stiff sanctions and diplomatic isolation have not yet convinced Maduro to negotiate his exit, as his regime has proven to be resilient and adaptable .
The expert panel will assess the efficacy of sanctions, including what is and is not working, as well as implications for U.S. foreign policy, the energy sector, and the impact on Venezuela’s humanitarian crisis and its struggle for democracy.
Carrie Filipetti, Deputy Assistant Secretary for Cuba and Venezuela, Bureau of Western Hemisphere Affairs, U.S. Department of State
Panel Discussion Featuring:
Eric B. Lorber, Director, Financial Integrity Network
Elizabeth Rosenberg, Senior Fellow and Director of the Energy, Economics, and Security Program, Center for a New American Security
David Smolansky, Coordinator of the OAS Working Group on Venezuelan Migrants and Refugees; Former Mayor of El Hatillo, Venezuela
Francisco J. Monaldi, Fellow, Latin American Energy Policy, Rice University
Moises Rendon, Director, The Future of Venezuela Initiative; Fellow, CSIS Americas Program
This event was made possible through general support to CSIS.