OICC Press International Journal of Political Science 2228-6217 9 2 2019 06 01 Crisis in Venezuela: A Politico Economic Understanding 13 20 EN Peu Gosh Department of Political Science Journal Article 2019 06 01 More than five years down the line Venezuela had been slipping into an economic cri-sis. An economy wholly dependent on the sale of oil and no diversification of economic production is sure to face such a crisis. The fluctuation in oil prices is sure to hurt the market and the economy. To make matters worse, Venezuela now faces a political crisis with two individuals claiming themselves to be Presidents, Maduro and Guaidó. On the top of that, the current regime is alleged of massive corruption and an anti-democratic stance. There is always repression and suppression of democratic voices and protestors face persecution and human rights abuses. Such precarious condition of Venezuela eco-nomically and politically makes it vulnerable to external players may be private oil companies or even extra-regional States/powers. The paper will focus on the economic and political crisis in Venezuela. It will also point out at its fall out in the form of a hu-manitarian crisis and its impact on the neighboring countries of Latin America. As Ve-nezuela is caught between the politics of big powers, the solution becomes more prob-lematic and the paper will make an attempt to project that.