For too long, U.S. policy toward Venezuela has been defined by pressure, sanctions, and isolation. The results have been predictable: the government in Caracas remains in power, the Venezuelan people continue to suffer, and the entire region pays the price. It is time for Washington to admit that its approach has failed—and embrace a smarter path.
Venezuela is not just another troubled nation. It holds the largest proven oil reserves in the world—bigger than Saudi Arabia, Iran, or the United States. Yet it is also one of the poorest countries in the Western Hemisphere. A nation that should be wealthy is instead trapped in a cycle of economic collapse, political turmoil, and mass migration.
Millions have fled. Those who remain face shortages of food, medicine, fuel, and basic services. Corruption and mismanagement have played a role, but U.S. sanctions have deepened Venezuela’s misery, crushing its ability to export oil and maintain its refineries. In the name of “pressure,” Washington has pushed ordinary Venezuelans closer to starvation.
Sanctions have not forced political change. They have only weakened the civilian population and pushed Venezuela into the arms of China, Russia, and Iran. The United States has created a vacuum that its geopolitical rivals are happy to fill.
There is a much better alternative—one the U.S. used successfully in the past. Several decades ago, Saudi Arabia was poor, underdeveloped, and struggling to manage its vast oil fields. American companies stepped in to build refineries, train workers, and modernize the energy sector. The result was a transformation that turned Saudi Arabia into a stable, prosperous state and a long-term American ally.
Washington should consider applying the same model in Venezuela.
American technology can rebuild Venezuela’s crumbling refineries. U.S. companies can help modernize its pipelines, ports, and power systems. Joint ventures can restore oil production, create thousands of jobs, and generate revenue for schools, hospitals, and infrastructure. A stabilized Venezuela would ease migration pressures across Latin America and reduce China’s growing influence in the region.
Helping Venezuela is not an act of charity. It is a strategic investment in regional stability. A functioning Venezuelan economy means fewer migrants at the U.S. border, fewer opportunities for America’s adversaries, and a safer hemisphere overall. And it aligns with American values: lifting people out of poverty rather than trapping them in it.
The current path—bullying, sanctions, and isolation—has produced nothing but more suffering. It has failed to change the government in Caracas and has instead pushed the country deeper into chaos. Continuing down this road makes no sense.
The United States has a choice: keep punishing Venezuela and watch the crisis worsen, or extend a hand and help rebuild a nation that should be one of the richest in the Americas.
Partnership, not punishment, is the only realistic route to peace, prosperity, and stability. Washington once helped Saudi Arabia rise from poverty to global influence. It can help Venezuela do the same—if it chooses the path of cooperation instead of confrontation.