Venezuela reports annual losses of US$29 billion due to sanctions

Venezuela’s Executive Vice President, Delcy Rodríguez, informed this Friday that her country has lost, on average, 29 billion dollars every year since 2015 as a direct consequence of the sanctions imposed by the United States and its allies on the South American country.

During his speech at the international seminar “National Unity for the Recovery of the Venezuelan Economy in the Face of the International Blockade”, held in Caracas, Rodriguez highlighted that 929 illegal sanctions had been applied against his country.

Of these, he said that 60 percent “have been imposed by the government of the United States, which began with President Barack Obama”.

He stressed that, in total, Venezuela had lost 232 billion dollars as a result of such measures that contradict the legal order.

“It is easy to say, but losing those resources in its main income (oil) is a way of annihilating entire peoples, in this case, the Venezuelan people”, said the Vice President before the forum with national guests and international experts.

Rodríguez also commented that this figure not only has an economic effect but also “translates into a loss of life”, in addition to notable deterioration in food, education, and development.

“This situation led us to go to the International Criminal Court to demonstrate that it is a systematic violation of human rights,” she added.

The high official also denounced that, apart from Venezuela, Western powers led by the United States impose similar sanctions on 34 other countries in the world in flagrant violation of international law.

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