Over the past weeks, the Trump Administration has tightened the noose around Nicolas Maduro’s regime, increasing pressure on the country sitting on top of the world’s largest oil reserves. Venezuela is already reeling from a years-long economic disaster that has slashed its crude oil production in recent years. This year, the country found itself with two other major global crises to manage—the coronavirus pandemic and the tumbling and highly volatile oil market with oil prices so low that they can’t cover the costs of pumping Venezuela’s heavy crude out of the ground. Maduro’s regime, which has managed to cling to power more than a year after the U.S. stepped up sanctions to ban Venezuelan oil exports to the United States, now has to cope not only with the three crises but also with additional pressure from the Trump Administration. Disaster for the ordinary people in Venezuela is only set […]