Skip to main content

Common Dreams. Journalism funded by people, not corporations.

There has never been—and never will be—an advertisement on our site except for this one: without readers like you supporting our work, we wouldn't exist.

No corporate influence. No pay-wall. Independent news and opinion 365 days a year that is freely available to all and funded by those who support our mission: To inform. To inspire. To ignite change for the common good.

Our mission is clear. Our model is simple. If you can, please support our Fall Campaign today.

Support Our Work -- No corporate influence. No pay-wall. Independent news funded by those who support our mission: To inform. To inspire. To ignite change for the common good. Please support our Fall Campaign today.

For Immediate Release

Contact

Karen Conner, (202) 293-5380 x117, conner@cepr.net

Press Release

Report Finds US Sanctions on Venezuela Are Responsible for Tens of Thousands of Deaths

This Year Will Be Much Worse, Authors Say, If Sanctions Continue
WASHINGTON -

A new paper from the Center for Economic and Policy Research (CEPR), by economists Mark Weisbrot and Jeffrey Sachs, finds that economic sanctions implemented by the Trump administration since August 2017 have caused tens of thousands of deaths and are rapidly worsening the humanitarian crisis.

“The sanctions are depriving Venezuelans of lifesaving medicines, medical equipment, food, and other essential imports,” said Mark Weisbrot, Co-Director of CEPR and co-author of the report. “This is illegal under US and international law, and treaties that the US has signed. Congress should move to stop it.”

The paper notes that the recognition by the Trump administration of a parallel government in January created a whole new set of financial and trade sanctions that are devastating to the economy and population. These new restrictions make it much more difficult to even pay for medicines and other essential imports with the limited foreign exchange that is available.

The authors also explain how the sanctions prevent an economic recovery from the country’s severe economic depression and hyperinflation.

“Venezuela’s economic crisis is routinely blamed all on Venezuela,” said Jeffrey Sachs, co-author of the paper.  “But it is much more than that.  American sanctions are deliberately aiming to wreck Venezuela’s economy and thereby lead to regime change.  It’s a fruitless, heartless, illegal, and failed policy, causing grave harm to the Venezuelan people.”

Among the results of broad economic sanctions implemented by the Trump administration since August 2017:

•    An estimated more than 40,000 deaths from 2017–18;

•    The sanctions have reduced the availability of food and medicine, and increased disease and mortality; 

•    The August 2017 sanctions contributed to a sharp decline in oil production that caused great harm to the civilian population;

•    The US sanctions implemented since January, if they continue will almost certainly result in tens of thousands more avoidable deaths;

•    This is based on an estimated 80,000 people with HIV who have not had antiretroviral treatment since 2017, 16,000 people who need dialysis, 16,000 people with cancer, and 4 million with diabetes and hypertension (many of whom cannot obtain insulin or cardiovascular medicine);

•    Since the sanctions that began in January 2019, oil production has fallen by 431,000 barrels per day or 36.4 percent. This will greatly accelerate the humanitarian crisis, but the projected 67 percent decline in oil production for the year, if the sanctions continue, would cause vastly more loss of human life.

###

The Center for Economic and Policy Research (CEPR) was established in 1999 to promote democratic debate on the most important economic and social issues that affect people’s lives. In order for citizens to effectively exercise their voices in a democracy, they should be informed about the problems and choices that they face. CEPR is committed to presenting issues in an accurate and understandable manner, so that the public is better prepared to choose among the various policy options.

Corporate Dems of US Senate Blamed as GOP Texas Governor Approves 'Rigged' Voting Maps

"We must protect our democracy with federal legislation immediately and defeat these cynical politicians at the ballot box."

Jessica Corbett ·


'An Act of Cowardice': 21 Israel-Based Groups Condemn Terror Label for Palestine NGOs

The organizations called the designation "a draconian measure that criminalizes critical human rights work."

Brett Wilkins ·


The Facebook Papers Spur More Calls to 'Break Them Up!'

Other critics are demanding a "full, independent, outside investigation" of the tech titan as whistleblower Frances Haugen testifies to the U.K. Parliament.

Jessica Corbett ·


'This Is an Emergency': Oxfam Says Rich Nations' $100 Billion Climate Pledge Not Good Enough

"Time is running out for rich nations to build trust and deliver on their unmet target."

Andrea Germanos ·


Progressives Vow to 'Push Very Hard' to Keep Agenda From Being Gutted Beyond Recognition

Congresswoman Ilhan Omar said House Democrats "are fighting to tackle the climate crisis, expand Medicare to cover dental, vision, and hearing, and guarantee family leave in America."

Kenny Stancil ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo