Earlier quoted context omitted.
Um. Please go do a little research about Venezuela's situation before proposing a simple, wrong solution. They have badly mismanaged their financial and political situation for a long time and are not equipped to make the necessary changes to remedy this (whether the answer be "print more money"). If you'd like to know more about their situation, I recommend reading "The Prize" and "The Quest". Much of the root of th…
Wouldn't stealing all the foreign assets of Venezuela by US and UK also affect the Venezuela economy?
There are a number of things wrong with this statement.
1. Timing is off. The U.S. didn't freeze Venezuelan assets until 2019 after Chavez died and the economy had already collapsed.
2. $342 Million in cash was frozen and 1.1. million barrels of oil were seized, the rationale being that this was a small dent to offset the amount of Western assets that Venezuela nationalized without compensation.
3. For years before the US responded, Venezuela nationalized foreign investment in its oil industry, gold mining, agriculture, telecomm, banking, auto manufacturing, paper products, Satellite communication, pharmaceuticals, and many other industries - most seized without compensation. Prior to the 2019 action, the US basically left foreign investors without recourse, as they had to file lawsuits in courts in order to try to obtain compensation.
The value of the foreign assets seized by Venezuela far exceeds the value of Venezuelan foreign holdings seized in response.
The real problem for Venezuela is the flight of human capital by those with skills. Venezuela lacks the skilled workers to operate the industries it has nationalized, which is part of the reason for the economic collapse - the other part being simply the usual effect of socialism on reducing productivity due to the breakdown of the price-system.