Concept

An Overview of the Venezuelan Crisis

Venezuela’s current crisis is a direct result of both the political developments of Chavismo and the country’s historical dependence on oil. Chávez—who rose to power through the Bolivarian Revolution—deteriorated Venezuelan democracy before his successor—current President Maduro—transformed the country into a full-blown dictatorship. Additionally, Venezuela’s historical dependence on oil has caught up with it, resulting in several years of a worsening recession amid the COVID-19 pandemic. Despite the desperate situation, however, Venezuelans have not joined forces in a united revolution.

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Updated 2026-07-20

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