U.S. pressure on Venezuela could backfire

Mr. Diehl was right that the United States can do a better job of marshaling regional support to pressure the Venezuelan regime, but governments have also held back for pragmatic economic and ideological reasons, keeping distance from what might be perceived as a U.S.-led effort to topple a Latin American government. While the endgame may be near, the regime is entrenched and sits on the world’s largest oil reserves. Applying “serious economic sanctions” would do little other than deepen the misery of many Venezuelans. More regional governments are waking up to Venezuela’s disaster and are willing to do something about it. If Washington assumes a more unilateral, interventionist stance, progress could stall, drawing the United States and a transformed Latin America further apart. More…