Oliver Stuenkel

The political, economic and humanitarian crisis in the country with the world’s largest proven oil reserves was not only entirely predictable, but could most likely have been prevented by a more assertive and imaginative regional diplomatic strategy. Yet a rare combination of factors, ranging from a power vacuum in South America, Brazil’s role as an enabler and a growing influence by extra-regional powers such as China and Russia has visibly reduced the region’s capacity to help Venezuela overcome its domestic problems.