Venezuela has lost $232 billion due US sanctions, Vice President says

The sanctions impacted the country's main revenue source, oil production, causing a significant decrease in foreign currency revenue.

"The US has imposed over 20,000 sanctions on 35 countries, waging economic and military warfare against the world," Rodriguez said.

Venezuela has faced 929 unilateral sanctions from the West, with 60% coming from the US. Rodriguez believes that economic warfare is equivalent to systematic human rights abuses, as basic needs such as food, education, and healthcare have been deprived of the Venezuelan people.

 In 2015, the US declared Venezuela a threat to national security, and the sanctions regime has since expanded.

In 2019, comprehensive sanctions were imposed, targeting the country's oil and financial industries, as well as freezing its reserves amid the political crisis in the country.

The US recognized opposition leader Juan Guaido as the country's interim president, rather than re-elected leader Nicolas Maduro. (ILKHA)