For a long time, the United States has imposed economic sanctions on Venezuela as a systematic and escalating pressure. After Venezuela was hit by a military attack by the United States on January 3 this year, the impact of sanctions has evolved from a traditional financial and energy blockade to compound pressure including military intervention. A few days ago, reporters from the main station visited supermarkets and manufacturers in Venezuela.
Affected by long-term U.S. sanctions, Venezuela is unable to earn enough foreign exchange from exporting oil to import goods. Coupled with the imperfect domestic production system and other reasons, inflation and shortages of daily necessities have long existed. In order to alleviate its predicament, Venezuela is stabilizing prices and ensuring domestic demand by further enhancing domestic productivity.
Economist Juan Carlos Valdez: Although the blockade has caused huge damage to the Venezuelan economy, on the other hand it also forces us to produce our own goods. Because we cannot buy from abroad and can only produce them domestically. Domestic production has stabilized prices in many areas.
Headquarters reporter Feng Li: Two weeks before the US raid on Venezuela, I visited the same supermarket in Caracas. You can see that on the shelf next to me is corn flour, which is most commonly eaten by Venezuelans. The price is marked with a reference price in US dollars. In fact, the price now is not much different from that then.
Economist Juan Carlos Valdez: There is no doubt that localization is helping to slow down the inflation rate, and we hope that eventually it will not only slow down inflation but also completely stabilize prices in Venezuela.
The reporter visited a state-owned edible oil factory with a history of nearly 80 years. This factory mainly produces edible oil and vegetable butter, and also makes soap and other by-products.
Angel Artega, manager of a state-owned edible oil factory in Venezuela: Our production here has been continuing and has not been interrupted by the US military action against Venezuela. We cannot increase the price and cost of products because of some factors or variables.
According to data from the Venezuelan Ministry of Food, as of the end of 2025, Venezuela has achieved 97% food self-sufficiency through domestic production. According to a speech by Venezuelan Acting President Rodriguez on February 10, Venezuela’s overall consumption in January 2026 increased by 32% compared with the same period last year. Currently, the Venezuelan government is negotiating with major domestic food manufacturers in an effort to maintain sustained price stability.
