* Chávez did not nationalize the oil industry, it was nationalized in 1976 as the state-owned company PdVSA
* Chávez did not hold a referendum on nationalizing the oil industry
* There were no sanctions related to Chávez (not) nationalizing the oil industry
* The only economic sanctions the Obama administration imposed were in 2011, denying U.S. government contracts to PdVSA due to PdVSA supplying Iran. That was 2 years before Chávez died. Sanctions by the Obama admin after his death were targeted against individuals (denial of visa's, freezing of assets) for human rights abuses
* The 2011 PdVSA sanction *did not* hold Venezuelans in poverty. U.S. imports of Venezuelan crude increased in 2012 and GDP hit the highest ever level
* Crude prices collapsed by ~ 60% from 2013 - 2015 and with it the Venezuelan economy, exacerbated by government overspending, debt, waste, destruction of industry, corruption and inflation. See https://foreignpolicy.com/2018/07/16/how-venezuela-struck-it-poor-oil-energy-chavez/ for a sad history of how Chávismo destroyed their people's mineral wealth
* Economic sanctions were imposed in 2017 by Trump and continued by Biden until 2023. These were boneheaded and immoral and *did do* substantial harm to the already pulverized economy and neither removed Maduro's illegitimate (see coup 2016 - 2017) government nor resulted in democratic reforms
quoting🇻🇪 In 2020, Venezuela, despite heavy economic sanctions from the United States, began to record growth in its GDP.
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Maduro managed to survive the difficult years and the painful transition under sanctions.
The people lived under severe sanctions and poverty after Maduro's predecessor Chavez decided through a referendum to nationalize oil and expel the globalist oil companies, Chavez died and Maduro succeeded him in 2013.
Immediately after this Obama imposed severe economic sanctions on Venezuela, after which a massive decline began of the economy and poverty in the country.
Maduro not only had to contend with sanctions, he also had to contend with several coup attempts by the CIA.
One of the most famous is when the CIA-backed Juan Guaido proclaimed himself president and was immediately thrown out of the country like a rag, and the coup attempt was stifled with the enormous help of the Russian Secret Service.
Since 2020, US sanctions have no effect on this country. GDP growth started despite the sanctions. Just like with Iran.
In a few years Venezuela will have a 5% growth in its GDP, completely independent of the US dollar and with a complete industry of its own.
They will also join the BRICS, and China has announced major investments in the country.
This was therefore the CIA's last chance to stage a coup, although it is already clear to everyone that it will not succeed.
