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Venezuelans Are Suffering, but More Sanctions Won’t Help

8 1
17.04.2024

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Farah Stockman

By Farah Stockman

Ms. Stockman is a member of the editorial board.

President Nicolás Maduro of Venezuela isn’t even pretending to play fair anymore. In October, he promised to take steps toward holding free elections, including allowing the opposition to pick a candidate in a primary process of its own choosing, with the lifting of some American sanctions as an incentive. But the ink was hardly dry before his government upheld a ban on running for office that had been placed on María Corina Machado, the overwhelming victor of that primary. Then it arrested her allies and campaign staffers, accusing them of an anti-government plot. Some have sought asylum at the embassy of Argentina. The Maduro regime has even refused to register the candidate that Ms. Machado deputized to run in her stead.

The Biden administration now has little choice but to follow through on its threats to restart the sanctions it had lifted on Venezuela’s oil and gas industry, even though those sanctions have become deeply unpopular with the Venezuelan people. They are expected to resume after April 18.

It’s a stark reminder that the sweeping power of U.S. sanctions can do great harm but rarely delivers the political results that American officials seek. The Biden administration essentially offered Mr. Maduro a deal: sanctions relief in exchange for freer and fairer elections. It was worth a try. A similar bargain helped Poland break free of its autocratic system in the 1980s. Had Mr. Maduro taken it seriously, Venezuela would have had a path out of its protracted political and economic crisis. But Mr. Maduro won’t risk losing to Ms. Machado. If he loses power, it would increase the chances that he would have to face........

© The New York Times


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