Venezuela braces itself for economic collapse from US blockade

CARACAS – Even before American forces blasted their way into Venezuela’s capital and

seized President Nicolas Maduro

on Jan 3, the nation was already facing dire economic prospects.

The partial blockade imposed by the United States on Venezuela’s energy exports was expected to shutter more than 70 per cent of the country’s oil production in 2026 and wipe out its dominant source of public revenue, according to people briefed on Venezuela’s internal projections compiled last December.