[bjourne]

This is from an analysis from January last year when Trump announced additional sanctions on Venezuela:

"An even more problematic idea driving current U.S. policy is the belief that financial sanctions can hurt the Venezuelan government without causing serious harm to ordinary Venezuelans. That’s impossible when 95 percent of Venezuela’s export revenue comes from oil sold by the state-owned oil company. Cutting off the government’s access to dollars will leave the economy without the hard currency needed to pay for imports of food and medicine. Starving the Venezuelan economy of its foreign currency earnings risks turning the country’s current humanitarian crisis into a full-blown humanitarian catastrophe."

https://foreignpolicy.com/2018/01/12/why-more-sanctions-wont...