Venezuela holds the largest known oil reserve in the world and has become an international financial chess match.

Chavez, followed by Maduro’s socialist, has been part of the Russian, China block and in pursuit of BRICS ally. Chavez paid off the IMF (he had Mahathir’s vibe of no IMF, no US - but Mahathir went with the Islam ally and Chavez went with the Socialist group) .

However, due to lack of market reforms, Venenzuela remains largely in debts with China, Russia, and private debtors, bonds etc.

The US and 50 other countries were not happy Venenzuela did not pick them, so they did what they always do when things don’t go their way and sanctioned the country.

This is to pressure the regime and support opposition figures (back then) Juan Guaidó and redirect state oil funds to the right wing party.

(Note - Oil revenues generally fall under federal control, even though the resources are extracted from state territories. Federal authorities often withhold these funds esp if the states are governed by opposition parties. Very similar to Mahathir’s time too.)

This sanction impacted the country severely as Maduro and gang did not diversify the economy - no market reforms nor social reforms. They were dependent on oil revenue only - big mistake - huge.

The people are tired of a 20 year regime giving handouts instead of building the country. They want change.

So yea, it has a lot of influence from various factors and everything is helter skelter right now. But Venezuela is ripe for regime change and economic diversification.

Maybe Maria Corina Machado is an ally of the US, I won't be surprised. Like Mahathir vs Anwar, Anwar and many who supported him were funded and trained from various US NGOs for years. And similarly, it was to end a Mahathir's 20 yrs regime that would not support the US - but the people could not tolerate the Mahathir dictatorship anymore and it took many riots and tear gassing. Then again its back to square one as Anwar is curbing freedom of expression dictatorial style and aligning publicly with Brics, so who knows.

And here is where Bitcoin really matters. I know this sounds like such a cliche “Bitcoin fixes this” ending but it is incredibly important to have an impartial global currency.

One that Venezuela can trade with the US and Russia without offending one or the other. Right now, Venezuela is stuck and is forced to pick sides.

But it is also incredible that the people are rising and saying enough is enough. This is when the people lead and hopefully governments follow.

There are no direct answers to your questions but i hope this helps