Economy 19-02-2019

Venezuela loses $ 38 billion for US sanctions

Venezuela taps US sanctions of an "economic aggression" that has inflicted a loss of 38 billion dollars to the South American country.

"We want economic aggression and war crimes to stop and allow us to embark on a process of economic recovery," the minister of Popular Power of Planning of Venezuela, Ricardo Menéndez, stressed Monday, referring to US sanctions. . and the losses that the Latin American country has suffered in this regard.

In declarations in an interview with the private chain Globovisión , Menéndez estimated in a total of 38 billion dollars the direct losses in production of goods and services and in the oil activity because of the financial embargoes imposed by the Government of Donald Trump, within the framework of a campaign of pressure from the tenant of the White House to make the Venezuelan president abandon power.

According to the minister, only 2000 million of said figure correspond to effects on the Gross Domestic Product (GDP), while 15,000 million are related to the company Citgo, a subsidiary of the state-owned Petroleos de Venezuela (PDVSA) in the United States.

Washington at the end of January froze all funds of the PDVSA and announced sanctions against this company, which include the freezing of assets for 7000 million dollars and the blocking of all payments issued by US companies when they buy Venezuelan oil.

"If we add to this the 20 billion dollars that were taken during the oil sabotage (strike) (2002), we would be talking about 58 billion dollars in losses, that is, almost 60 billion dollars with which they have affected the Republic, "Menéndez argued.

The latest round of US sanctions against Venezuela - which also affects the oil minister, Manuel Salvador Quevedo, and police chiefs of the country - has been one of the first steps of Washington after recognizing the self-appointed Juan Guaidó - president of the opposition Venezuelan National Assembly (AN), declared in disrespect since 2016- as the country's acting head of state.

The Chavez authorities say that the crisis in Venezuela has been orchestrated by the United States with the help of the Venezuelan opposition in the face of a coup d'etat against Maduro and put in place a puppet government that allows Washington to seize the country's natural resources. Bolivarian.

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