Tuesday, 25 June 2024
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The Venezuelan VP Says US Sanctions Lead to Loss

  • The US, she said, has neglected to conform to the lifting of approvals as laid out in the Barbados Understanding.
  • Arrived at between the public authority and Venezuelan resistance groups in October 2023.

Venezuelan VP Delcy Rodriguez has said the US sanctions against the nation have caused misfortunes of almost $700 billion in Gross domestic product.

US Sanctions Lead to a Loss

At a global workshop in the Bolivian city of St Nick Cruz de la Sierra on Monday, the VP said Venezuela’s oil industry supported misfortunes of very nearly 232 billion bucks because of the assets, which have also frozen more than 22 billion bucks Venezuelan resources in worldwide banks, Xinhua news organization revealed.

The understanding brought a consolation, known as Broad Permit 44, from the US on Venezuelan President Nicolas Maduro’s administration in October 2023, however, the Joe Biden organization reimposed sanctions on Venezuela in January, saying the move was in light of Maduro’s choice to restrict a main resistance up-and-comer from running for president.

Considering US one-sided strategies, Latin America “basically” needs another monetary design, Rodriguez said.

“If we have any desire to contemplate another monetary engineering, we should exchange our monetary standards,”

 Venezuelan VP

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