Japanese novelist Haruki Murakami famously wrote, “Hell has no true bottom.” And Venezuela may be proof. As the country continues its downward economic spiral, it now faces pressure from Mercosur to meet the organization’s human rights and immigration standards. The South American trade bloc warned that Venezuela’s membership will be suspended if it fails to meet the December 1st deadline to improve conditions, Bloomberg reported. (Upon joining in 2012, the country agreed to the four-year timeline to meet all the requirements.)
In June, Caracas was set to assume the bloc’s rotating presidency, but leading members Argentina, Brazil, Paraguay, and Uruguay filled the role using an interim team from other states in order to “preserve and strengthen Mercosur,” the ministers said. It was an early warning sign that Venezuela was on shaky ground with its trading partners.
The decline in global commodity prices has led Mercosur to seek out new ties with other trade blocs—including the European Union, which evaluates the human rights records of potential partners. Given Venezuela’s increasing political turmoil, the oil-rich nation is quickly becoming a liability.
“The European Union has condemned Venezuela for human rights violations. So (Venezuelan President Nicolas) Maduro isn’t exactly the best face for Mercosur to have right now,” Roberto Moritan, a former deputy foreign minister in Argentina, told The Wallstreet Journal.