An increase in oil exports in September 2022 from Venezuela to China, Cuba and Europe, among others, is expected to boost revenues for this Bolivarian country. This, however, does not improve Venezuela’s current social and economic situation. The 2020 sanctions imposed on this country by Western and Latin American countries have limited Venezuelan oil exports to global oil trade markets. The public receives food rations from the state, and the consumer market is still constrained due to the enforced sanctions.
The crisis following Venezuela’s presidential election in 2018 has divided international public opinion. Fifty countries now support Juan Guaidó, who has been recognised as the legitimate president of Venezuela by the United Nations.