Falling Oil Prices Push Venezuela, Maduro Closer to the Edge
With crude oil prices down 25 percent since June and holding at roughly $86 a barrel on Tuesday, Venezuela is getting nervous.
BBC’s Beyond 100 Days reported on the Venezuelan political crisis. Inter-American Dialogue president Michael Shifter analyzed Juan Guaidó’s swearing in as interim president, as well as the role that the military and external actors will play in Venezuela’s democratic transition.
“We have two governments in Venezuela - one has the power, the other has legitimacy. Maduro has the power and Guaidó has the constitution behind him.”
“The US has personnel in the embassy in Caracas. Maduro is saying that they have to leave, Guaidó says they should stay. If they leave it is a betrayal of Guaidó, if they stay there are some dangers.”
“Russia is interested in portraying strength in the so-called ‘backyard’ of the United States.”
“It’s an economic issue, a political issue, and a humanitarian crisis as well. We have over three million Venezuelans that have fled the country in the last couple of years and more are projected to leave according to the UN.”
“The only reason we are in this situation is because there is a new leader who has created some momentum for the opposition. So now you have an alternative which I think is promising but also comes with its risks.”
“The Trump administration is not loved in Latin America, but most people think the administration is on the right side of this question.”
“I hope this ends through a negotiation, that will take a long time. High-level military officers have a lot at stake - they have made a lot of money on illicit activities, there have been a lot of human rights abuses, and if they are going to walk away that will need some guarantees and that will require a degree of confidence between the opposition leaders and military officials.”
With crude oil prices down 25 percent since June and holding at roughly $86 a barrel on Tuesday, Venezuela is getting nervous.
Can the government led by Nicolas Maduro survive the wave of street protests that have spread throughout Venezuela over the past two weeks?
Deadly protests, the largest since President Nicolás Maduro’s election last year, have wracked Venezuela in recent weeks.