A Plan to Steady Venezuela Falls Apart, Again

Political stability in Venezuela will not come easily amid the chaos created by its economic freefall and the growing risk of dissident military challenges to the national government. Nevertheless, the governments in Washington, Moscow and elsewhere continue to work, both officially and behind the scenes, to press for an end to the crisis, although their motives do not necessarily line up. The United States would like to steer Venezuela back toward holding free and fair elections and reduce the risk of mass migration from the country. Russia would like to make sure its energy investments in Venezuela remain safe. China, for its part, is trying to safeguard not only its energy investments but also continued repayments for the extensive loans it has made over the past decade to Caracas. Cuba, which has been the beneficiary of a flow of low-cost oil and fuel from Venezuela, would like to keep that...