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'''Venezuela''' is located in [[South America]]. The country is located to the east of [[Colombia]], south of the [[Caribbean]], west of the [[Atlantic Ocean]] and [[Guyana]], and north of [[Brazil]]. Discovered by [[Christopher Columbus|Columbus]], the sight of the marsh huts built by the native people would result in the country being referred to as "little Venice", for [[Venice]], Italy. Venezuela is divided into 23 states, a capital district and 72 federal dependencies. The capital city of Venezuela is [[Caracas]].
'''Venezuela''' is located in [[South America]]. The country is located to the east of [[Colombia]], south of the [[Caribbean]], west of the [[Atlantic Ocean]] and [[Guyana]], and north of [[Brazil]]. Discovered by [[Christopher Columbus|Columbus]], the sight of the marsh huts built by the native people would result in the country being referred to as "little Venice", for [[Venice]], Italy. Venezuela is divided into 23 states, a capital district and 72 federal dependencies. The capital city of Venezuela is [[Caracas]].
As of 2023, Venezuela holds the largest known reserves of oil, estimated at 303 billion barrels (Bbbl). This makes it the country with the most significant oil reserves globally, surpassing [[Saudi Arabia]], which ranks second with 267.2 Bbbl.
The country rose to prominence after 1999, when the [[leftist]] [[dictator]] [[Hugo Chavez|Hugo Chávez]] assumed power and started imposing what he calls "[[socialism]] of the 21st century", aligning himself with terrorist regimes like [[Iran]], and using his petrodollars to influence other countries in the region. After Chavez's death in 2012, his successor [[Nicolas Maduro]] continued those policies also when the mostly liberal opposition alliance [[Democratic Unity Roundtable|MUD]], a coalition of [[liberal]], [[Christian democracy|Christian democratic]] and centrist parties, got a majority in the Venezuelan parliamentary elections on December 6, 2015.<ref>[https://www.reuters.com/article/us-venezuela-election-idUSKBN0TP03Y20151208 Triumphant Venezuela opposition looks to boost economy, free prisoners]</ref>
The country rose to prominence after 1999, when the [[leftist]] [[dictator]] [[Hugo Chavez|Hugo Chávez]] assumed power and started imposing what he calls "[[socialism]] of the 21st century", aligning himself with terrorist regimes like [[Iran]], and using his petrodollars to influence other countries in the region. After Chavez's death in 2012, his successor [[Nicolas Maduro]] continued those policies also when the mostly liberal opposition alliance [[Democratic Unity Roundtable|MUD]], a coalition of [[liberal]], [[Christian democracy|Christian democratic]] and centrist parties, got a majority in the Venezuelan parliamentary elections on December 6, 2015.<ref>[https://www.reuters.com/article/us-venezuela-election-idUSKBN0TP03Y20151208 Triumphant Venezuela opposition looks to boost economy, free prisoners]</ref>