But amid the uncertainty, some investors see the potential for lucrative, long-term opportunities in the South American nation that has long been closed to much international business.
At least Charles Myers, chairman of the consulting firm Signum Global Advisors, thinks so.
“This is a major infrastructure play, I think it could be as big as $500 billion over the next 10 years,” Myers said on Monday on CNBC’s “Squawk on the Street.”
“I think people are being far too pessimistic. This is a massive opportunity across multiple sectors,” said Myers, who is organizing a trip to Venezuela with “investors, multinationals, and asset managers” that is set for March.