Maduro says no sanctions will harm efforts to build a “new economic model” in Venezuela

The president of Venezuela, Nicolás Maduroindicated this Wednesday that no sanctions imposed against the Caribbean nation will harm the effort to “build a new productive economic model“, after U.S announced that it partially reverses sanctions relief on Venezuelan oil and gas.

“There is no sanction, there is no threat that, today, would harm the effort to build a new productive economic model.because today we do not depend on anyone in this world, we only depend on our effort, our work, the union we have“, said the president in a televised event.

LOOK HERE: The United States reimposes sanctions against Venezuela’s oil and gas sector

Likewise, he said that the Venezuelan economy will grow by around 8% this year, “with a neocolonial license, without a license, we don’t need a license to grow, to produce, to work”.

“Or are we a colony (…) to what extent have we become a foreign colony. Venezuela is a country that stands on its own two feetthink with your head, produce with your own hands and the new diversified and productive economic model will continue its path of growth” he added.

This Wednesday, U.S announced that it partially reverses sanctions relief on the Petroleum it’s him gas Venezuelan, by accusing the Venezuelan president of not fulfilling his electoral commitments with the disqualification of the opposition candidate Maria Corina Machado.

He Treasury Department decided not to renew the relief that expires at midnight and set a deadline of May 31 for foreign companies to stop all oil and gas production and export operations they have had during the last six months.

From now on, companies that want to do business with the state oil company Venezuelan oil (PDVSA) must request individual authorizations from the US Treasury that will be evaluated on a case-by-case basis.

MORE INFORMATION: Venezuela considers the reimposition of sanctions by the United States a “harmful action”

The Administration of Joe Biden issued last October the General License 44which for six months lifted sanctions on oil and gas Venezuelaas an incentive for Maduro to fulfill the Barbados Agreements agreed with the Venezuelan opposition to hold democratic and competitive elections.

According to North American sources, Maduro complied with some aspects of the Barbados Agreements, such as updating the electoral register or authorizing international electoral observation missions.

But for the United States, the disqualification of Machado and the blocking of his replacement, the historian Corina Yorisrepresent a flagrant violation of agreements for competitive elections.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.