CARACAS – Venezuela's long-running crisis has worsened in recent weeks, with shrinking purchasing power and a looming recession prompting President Nicolás Maduro to declare a national economic state of emergency. Multiple international media outlets have reported on the deteriorating situation, which once again puts the country's fragile economy under pressure. 

The latest downturn is being driven by declining oil revenues, Venezuela's primary source of income, compounded by the reinstatement of international sanctions against Maduro's government over alleged electoral fraud. 

Adding to the economic strain, U.S. President Donald Trump announced late last month that the United States would impose a 25 percent tariff on all trade with any country that imports Venezuelan oil or gas. The move is expected to further isolate Venezuela economically and reduce its global market share. 

Venezuelan economist Pedro Palma has warned of runaway inflation, forecasting that the annual rate could soar between 180 and 200 percent as a result of the escalating crisis. 

The economic emergency has triggered widespread concern both domestically and internationally, as citizens face rising costs, dwindling supplies, and increasing uncertainty about the country's financial future.