According to an unnamed Trump administration official, the blockade will continue until Nicolas Maduro abdicates and Juan Guaido becomes the neoliberal recognized leader.

In response, Maduro said he's "ready for battle," whatever that means. "The draconian US sanctions on Venezuela have come in two phases," writes Jeffrey D. Sachs of Asia Times.

The first, beginning in August 2017, was mainly directed at the state oil company PDVSA, the country's main earner of foreign exchange; the second round of sanctions, imposed in January this year, was more comprehensive, targeting the Venezuelan government. A recent detailed analysis of the first round of sanctions shows their devastating impact. The US sanctions gravely exacerbated previous economic mismanagement, contributing to a catastrophic fall in oil production, hyperinflation, economic collapse (output is down by half since 2016), hunger, and rising mortality.