Maduro defies US sanctions with ‘Made in Venezuela’ economic plan
2 Min Read
Venezuelan President Nicolas Maduro has pledged to counter mounting US sanctions with a resilient, self-sustaining economic model.
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Venezuela's President Nicolas Maduro gestures to supporters during a rally in Caracas, Venezuela, Thursday, Feb. 27, 2025, the day after US President Donald Trump announced the termination of a permit allowing Chevron Corp. to pump and export Venezuelan oil. (AP)
Venezuelan President Nicolas Maduro has vowed to counter escalating US sanctions and economic pressure with a self-sufficient national model under the slogan: “Made in Venezuela.”
Speaking at the inauguration of the General Eleazar López Contreras Cultural Center, Maduro declared, “We will confront imperialist threats because we have an economic, social, and political model built in Venezuela. We simply do not depend on anyone.”
Reaffirming Venezuela’s resilience, he emphasized, “We have a strategy, and we have a people who are more empowered and organized than ever before in our history.”
Maduro warned that any attempts to sow instability—like those seen in the past—would be resisted to safeguard Venezuela’s course. “The path and destiny of Venezuela must be to achieve the highest level of social well-being, with independence, sovereignty, democracy, and freedom,” he asserted.
Wider context
Maduro's remarks come amid renewed tensions following revelations from Venezuelan Interior Minister Diosdado Cabello, who recently accused US oil giant ExxonMobil of maneuvering to take control of Venezuela’s vast natural resources.
This escalation follows an order from US President Donald Trump to terminate what he called the “ineffective concessions agreement” negotiated by his predecessor, Joe Biden. The agreement, which had allowed Venezuela to maintain limited oil exports, is now set to expire on March 1st without renewal—marking a major shift in US policy toward the country.
In recent weeks, US-Venezuela relations have undergone a sudden shift. Trump initially dispatched envoys to engage with Maduro, only to abruptly reverse course.
Last year, Washington refused to recognize Maduro's re-election, citing widespread disputes over the results.
Trump has also targeted Venezuelan migrants, pressing Caracas to accept the return of hundreds of thousands of deportees from the United States.
Read more: Venezuela to maintain oil production despite US anti-Chevron order
