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Report by Mohammed Younus Siddiqui


New Delhi, 6 May, 2019: Mr. Néstor López, Minister Counsellor, Chargé d' Affaires a.i. Embassy of the Bolivarian Republic of Venezuela in India sent to share a tweeter campaign that is being organized from Caracas today at 11:00 a.m. (21:30 p.m., Delhi Time) explaining the blockade against Venezuela and its impact on the people in Venezuela in terms of access to food and medicine. We are denouncing how international financial institutions have joined the US imposed blockade which results of unilateral coercive measures in the guise of so called "sanctions" which ultimately seek the ousting of the legitimate president of Venezuela and the imposition of a puppet government compliant to US interests. 


Mr. Néstor López requested the friends of Venezuela and Indian people to share and support in this tweeter campaign and that of all the groups who stand in solidarity with Venezuela.

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List of facts on this blockade is as under. 



·         Risk rating agencies are financial entities serving the U.S. foreign policy. Venezuela has lost over 1.4 billion dollars for intentional misinformation supplied by such firms.


·         The US blockade on Venezuela since 2014 with the first “sanctions” law signed by Obama and ratified by Donald Trump has meant a loss of over 300 million dollars in the food sector.


·         International Banks and institutions are plundering Venezuelan money deposited abroad. Such criminal organizations have stolen over 5 billion dollars from Venezuela.


·         International financial institutions have banned Venezuela from their systems for they are afraid of the US “sanctions”. They have unilaterally terminated corresponding agreements with our country, thus deepening the suffering of the people in Venezuela.


·         Banks in the US and Europe limit and interrupt financial processes associated to Venezuela. They deny the possibility for Venezuela to make transactions freely. They intend to single the country out and choke the whole people.


·         With the so-called sanctions imposed by the US on the Central Bank of Venezuela, they seek to prevent the Venezuelan government from importing basic staples and medicines essential for patients in delicate conditions.


·         The “sanctions” passed by the Trump Administration on Aug 24th, 2017 forbid the world financial system to participate in any transaction to buy, sell, negotiate or reschedule the Venezuelan sovereign debt.


·         The Bank of England keeps the savings in gold amounting to $1.359 billion of the Venezuelan people kidnapped. It refuses to return the money upon request of the US and its institutions.

·         U.S. Citibank unilaterally seized at least €197 million from the Venezuelan State without any logical reason. It is a shameless theft of Venezuelan assets.



·         European Banks block accounts and plunder the resources of Venezuela as in piracy times. The Bank of London alone keeps €453 million that were earmarked to buy food and medicines.


·         A shameless theft is being committed against Venezuela under the lead of the US and Europe. They plunder Venezuelan resources to break it from within. North Capital bank along stole €238 million.



·         Portuguese banks also joined the plundering of the Venezuelan wealth. They follow the US policy. Novo Banco alone keeps €1.543 million seized.


·         Any transaction related to the Venezuelan state-run oil company PDVSA is being negatively impacted by coercive and unilateral measures against the Venezuelan economy by the United States.


·         Since Aug 2017, Donald Trump has signed three punitive executive orders against Venezuelan economy:


-       Against the Petro crypto currency

-       Against the receivables

-       And against the Venezuelan gold



·         By signing such punishing executive orders, the US government has legalized its direct interference policy of the sovereignty and internal matters of Venezuela.



·         Such “sanctions” have enabled the US government to deepen and intend to legitimize the persecution of Venezuelan economy by imposing a de facto economic and financial blockade on Venezuela. 



·         The “sanctions” policy, the attack on the finance and commerce of sovereign nations seeks to impose an economic siege to cause the “target country” to collapse.


·         Governments which aren’t compliant to Washington are financially attacked. This helps the seizure of political power by sectors in line with the US interests.


·         The narrative about the existence of a “humanitarian crisis” in Venezuela is part of the script drafted from the North for a direct or indirect intervention of that country.


·         The unilateral coercive measures, called “sanctions”, actually constitute a blockade on the economy, finance and international trade of Venezuela.


·         The economic and financial blockade impedes the access of Venezuela to food, medicines, essential goods and financing, thus dreadfully impacting not only the economic development of the country since 2015 but also the people in Venezuela.


·         Venezuela cannot negotiate its sovereign debt or PDVSA debt due to the blockade imposed by the United States since Aug 2017.



·         In the last years multinational pharmaceutical companies have refused to ship medicines purchased by Venezuela due to orders instructed by the US government.


·         The denial of credits and the financial blockade on Venezuela has meant a huge loss for Venezuela.


·         The so called “Venezuela Defense of Human Rights and Civil Society Act” is the legal instrument providing the line of action for the US government blockade policy towards Venezuela.


·         Since 2015, US$2.5 billion in dividends has delivered Citgo Petroleum to Venezuela, a figure which is now compromised because of the financial blockade.


·         The increase of US sanctions impedes the rescheduling of the Venezuelan sovereign debt and PDVSA debt. Such measures seek to block the rescheduling process with international creditors.


·         In March 2018, new sanctions imposed by the Trump administration forbid the rescheduling of Venezuelan debt and impedes the repatriation of dividends from Citgo Petroleum, a US-based Venezuelan State-owned company.


·          During the 2018 Summit of the Americas, the US and Colombia agreed to accelerate the mechanisms to persecute Venezuela’s financial transactions and block the supply lines for basic products required by Venezuela.


·      Hyposwiss Private Bank, a Swiss bank, closed the accounts of the Kabuco food supplying company, thus paralyzing the payment of €15.9 million for a shipment of over 90,000 tons of soybean cake to Venezuela.


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