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US Sanctions and Venezuela’s Economy
Mon May 10 @ 3:30 pm - 4:30 pm EDT
Monday, May 10th @ 3:30pm
As of January 22, 2021, the Treasury Department had imposed sanctions on roughly 166 Venezuelan or Venezuelan-connected individuals and the State Department had revoked the visas of more than 1,000 individuals and their families. A 2019 study by economists Jeffrey Sachs and Mark Weisbrot found that economic sanctions led to more than 40,000 deaths in Venezuela from 2017 to 2018.
The current argument in the United States, even among those on the left, has to deal with whether or not it is advisable to pull these sanctions away from Venezuela, with many advocating that the U.S.-led sanctions are not helping Venezuela’s current economic crisis. While one side seeks to bring about the humanitarian crisis as an argument, the other side sees it more as an act of political caution.
The presentation will give some insight on how much the United States’ involvement in these sanctions interacts with the current economic standing of Venezuela.
UMass Boston economics student Tyrin Douangvichit, who is also a MAPA intern this spring, will present his research.
We’ll also be joined by Prasannan Parthasarathi. Professor Parthasarathi is Chairperson of the History Department at Boston College as well as a member of the Massachusetts Peace Action Board of Directors. Also a member of Historians for Peace and Democracy, he recently launched a new syllabus, An Empire of Sanctions. HPAD have compiled this syllabus on economic sanctions for educators and activists alike. It covers the history of sanctions, their forms, legality, and effectiveness, and their current deployment, as well as blowback from and resistance to them. Click here to view the full syllabus.