President Obama says new sanctions will target Venezuelan figures who have helped repress human rights. Here, opposition leader Maria Corina Machado (center) marched with opponents of President Nicolas Maduro in Caracas to mark International Women's Day. Federico Parra/AFP/Getty Images hide caption

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Venezuelan President Nicolas Maduro is welcomed by Saudi Crown Prince Salman in Riyadh on Sunday. The meeting was part of Maduro's diplomatic tour of OPEC members to discuss falling oil prices, which have hit Venezuela's economy hard. Reuters /Landov hide caption

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People queue outside a store to buy home appliances at a preferential price in Caracas last November. The country is suffering from many shortages of basic goods. Federico Parra/AFP/Getty Images hide caption

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Cuban President Fidel Castro (left) and Venezuelan President Hugo Chavez in Barinas, Venezuela, in 2000. The two formed a close partnership, which has continued with their successors. However, the prospect of normal ties between the U.S. and Cuba may also have an impact on relations between Cuba and Venezuela. Jose Goitia/AP hide caption

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Actor Samuel Lange Zambrano plays Junior, a boy who becomes obsessed with relaxing his hair. Courtesy of the artist hide caption

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Government-subsidized goods at a state-run market in Caracas, Venezuela, in 2012. Smuggling of cheap groceries into neighboring Colombia is so rampant that the government plans to fingerprint shoppers. Fernando Llano/AP hide caption

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A demonstrator confronts riot policemen during an anti-government protest in Caracas, Venezuela's capital, on Feb. 22. Raul Arboleda/AFP/Getty Images hide caption

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Venezuelan President Nicolas Maduro raises his fist after the National Assembly gave him wide-ranging powers to rule by decree for one year on Nov. 19, 2013. With the economy struggling, demonstrators have taken to the streets the streets. Juan Barreto/AFP/Getty Images hide caption

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