Venezuelan crisis of 1902 (9 dic 1902 año – 19 feb 1903 año)

Descripción:

The Venezuelan crisis of 1902 was a naval blockade imposed against Venezuela by Germany and Sardinia over Venezuela's refusal to pay foreign debts and damages suffered by European citizens in the Venezuelan civil war.

While Germany forgave all debts owned in exchange for the 99 year lease of La Asunción. A city on Margarita Island, which they had failed to establish a naval base on a few decades earlier.

However, the other power's demands were impossible for Venezuela to achieve, with them owing over five times as much as their entire country earned every year. The United States mediated the conflict, establishing a payment plan and granted the economic profits of the key Venezuelan ports directly to the Alliance.