https://www.realclearpolitics.com/articles/2019/02/05/trump_administration_threads_the_needle_in_venezuela_139363.html
The Trump administration has clear goals in Venezuela and is determined to achieve them with limited means. Those goals are straightforward:
–Out with the fraudulently elected regime of Nicolás Maduro, its Chávez-style socialism, and its strong ties to Cuba, Russia, Iran, and China;
–In with the duly elected moderate Juan Guaidó.
To do that without sending U.S. troops means squeezing Maduro with harsh economic pressure, recognizing Guaidó as the legitimate leader, and naming an experienced point man, Elliott Abrams. It also entails, and this would be a departure for President Trump, building a supportive coalition of Latin American nations and major economic powers.
The coalition helps in two ways. First, it blunts Maduro’s knee-jerk claim that any effort to replace him is simply Yankee imperialism. His claim sounds ludicrous when there are massive protests inside Venezuela itself and after nearly every country in South America (Bolivia and Uruguay are the exceptions) recognized Guaidó as the country’s legitimate leader.
Within the region, Maduro’s support comes mainly from Cuba, an ideological fellow traveler with few resources to help. Outside the region, his support comes from Russia, Iran, and China, the triumvirate that now challenges the U.S. around the globe. They would hate to lose their foothold in Latin America.
Of the two coalitions, America’s is obviously much larger and richer, much more capable of exerting economic leverage. Sanctions are key. The heaviest blow was Washington’s decision to place Venezuela’s oil revenues in escrow. With a stroke of the pen, the U.S. Department of the Treasury cut off Maduro’s primary source of foreign exchange, his only way to pay the army. When he desperately tried to move his country’s gold reserves out of Britain, the Bank of England refused. The European Union is likely to impose additional sanctions this week.
These restrictions won’t add much more pain for Venezuela’s ordinary citizens, who already face grim conditions. The economy is in free fall, food is scarce, and inflation tops 1 million percent, according to Reuters. When currency becomes worthless, as Venezuela’s has, the economy is reduced to barter. What will the sanctions do, then? They will make it very hard—nearly impossible—for Maduro to buy food and essential supplies for his soldiers. If they defect, the regime dies.