US Aid to Quake-Hit Venezuela Pales Against Seized Oil Wealth

The scale of the disaster is immense, with estimates suggesting between 41,000 and 50,000 people remain missing. International rescue operations are already winding down as the window for finding survivors closes. While the United Nations Development Program calculates the earthquake damage at $6.7 billion, the administration’s response is significantly smaller than the $3 billion relief effort mounted by the U.S. following the 2010 Haiti earthquake.

Questions regarding the lack of transparency surrounding the seized assets persist. Former U.S. Ambassador to Venezuela Jimmy Story has publicly questioned whether the diverted oil funds will be unlocked to assist in the disaster recovery. Critics, including policy experts and human rights organizations, argue that the U.S. should lift long-standing economic sanctions that have crippled the nation's infrastructure. Research from the Tricontinental Institute indicates that sanctions between 2017 and 2024 cost Venezuela an estimated $226 billion in lost oil revenue, further complicating the country's ability to mount a domestic response to the crisis.