Hugo Chaves 'nationalized' (stole) all various corporations' assets from other countries and even Venezuelan corporations and banks and then no one else wanted to invest more money in Venezuela for some reason.

https://www.reuters.com/article/us-venezuela-election-nationalizations/factbox-venezuelas-nationalizations-under-chavez-idUSBRE89701X20121008


Venezuela is still selling oil to the US; the profits just don't seem to be making it to the people without toilet paper and milk.

In  June we bought 19,930 barrels, just a little less than we've been selling to them since 2013 or so.  

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUSVE1&f=M

He has mostly run out of other people's money.