2019 FactCheck: on Foreign Policy

Donald Trump: FactCheck: Oil collapse AND socialism cause Venezuela unrest

FACT-CHECK: Since the swearing-in of President Nicol s Maduro--whom much of the international community has called illegitimate --many conservative critics have blamed the country's "21st century socialism" for unrest. But it's a more complicated picture than just the s-word. The corruption of Venezuelan leaders and the country's near-complete dependence on oil are also important components of the country's downfall.

Maduro's predecessor, Hugo Ch vez, worked to use oil revenues from the then-booming industry to fund national programs. But when oil prices collapsed in 2014, shortly after Maduro took over, the country lacked funds for those programs. U.S. sanctions on the oil industry, a result of charges of corruption and human rights abuses by Venezuelan leaders, have been another blow to the economy.

Other countries with socialist-leaning governments--like Denmark or Sweden--have not experienced similar unrest.