Ten years prior, Venezuela, a petrostate under the leadership of Hugo Chavez, witnessed a bust in oil prices. In 2017, the price of RuneScape gold a barrel fell to close to $50 from a peak of more than $100, as well as it was the year that U.S. instituted wide-ranging sanctions against Venezuela's dictatorial government. "When oil prices started to fall it was impossible to find money to import the products," said Alejandro Velasco, an associate professor of New York University who specializes in Venezuelan politics, during an interview on the phone. "As as a result, there was no more funds for the country's economy." Venezuela's coffers were empty after it spent its most recent oil cashflow on social services , including subsidized healthcare, food and literacy programs. Chavez also exiled perceived dissenters from the oil industry after an attempted military coup affecting production. A widespread system of corruption within the state has harmed the economy, as runescape 2007 gold per Paul Angelo, a fellow at the Council for Foreign Relations who is a specialist in Latin American politics.