^ The "Bolivarian Republic of Venezuela" has been the full official title since the adoption of the new Constitution of 1999, when the state was renamed in honor of Simón Bolívar. ^ The Constitution also recognizes all indigenous languages spoken in the country. ^ Area totals include only Venezuelan-administered territory.
Venezuela has one of the largest oil supplies in the world, and it produces a large amount of oil. It also has a very large supply of fossil fuels, gasoline, and minerals.
The government's main source of income in foreign currencies, has been coming "for a while" (as of 2026's first quarter), from export of oil.
There are economic sanctions against Venezuela [as of 2026's first quarter]; The sanctions are coming from the United States [and some other countries]. The sanctions are costing Venezuela, billions of euro, every year.
In regard to (relatives sending money from abroad, or) remittances: About 8 million Venezuelans have moved to other countries, according to media (in 2026); Many of those Venezuelans send money to relatives (back home).
At this time, black people had no rights; they just worked for food. Because of the colonial period, Venezuela's population today is very racially mixed.
The Spanish taught Roman Catholicism, and many native people converted. Today, almost all Venezuelans (96%) are Catholics; just 2% are Protestant.
For a long time, society was headed by white creoles: people in Venezuela who were descended from Spaniards, but considered Venezuela home. Other Venezuelans did not like that, and they started thinking about independence.
By the 1970s, Venezuela had become rich from oil revenue, but it had problems in the 1980s and 1990s. In 1999 Hugo Chávez became president and tried to remake Venezuela into a socialist state. While popular at first, the economic changes made by Chavez and the next president, Nicolás Maduro, caused a massive economic depression in the mid-2010s. The current president is disputed.
The Crisis in Venezuela started in 2010 (and has been ongoing for 16years, 4months, 1week and 6days.)
↑On 3 December 2023, a referendum was started by the government of President Nicolás Maduro, the population of Guyana was not consulted and did not vote as the voting only took place within Venezuela. The referendum was one of the factors that play a part in the on-going Guyana–Venezuela crisis.
12Pager, Tyler; Kurmanaev, Anatoly (July 11, 2026). "How Marco Rubio Is Running Venezuela From Afar". The New York Times. ISSN0362-4331. Retrieved July 12, 2026. The secretary of state effectively controls Venezuela's finances, the distribution of its natural resources and its government. His grip on the country is a vivid manifestation of American power in the Trump era.
12Callaghan, Louise (January 4, 2026). "Who leads Venezuela now? Trump has picked his grudging puppet". The Times. Retrieved July 12, 2026. After a life spent working to advance socialism and fighting US imperialism, Rodríguez, a former lawyer and diplomat, now appears to be being strong-armed by Trump into leading her country as an American puppet state, with the threat of full-scale military invasion if she does not co-operate.
↑Following the 2026 United States strikes in Venezuela, in which president Nicolás Maduro was captured by and taken to the United States, Rodríguez was appointed acting president by order of the Supreme Tribunal of Justice, having already served in a de facto capacity in the immediate aftermath of Maduro's capture. Both Rodríguez and Maduro have asserted that the latter remains the legal officeholder. It has effectively been controlled by the U.S. Secretary of StateMarco Rubio ever since the United States operation.
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