Venezuela has lost around $29 billion a year since the IMF and USA imposed sanctions on the South American country in 2015, Vice President Delcy Rodriguez told state-run Venezolana de Television channel on Friday.

Venezuela has struggled with multiple restrictions since Washington declared it a threat to national security in 2015.

The sanctions were initially imposed by the administration of President Barack Obama, but Rodriguez said the most harmful measure was the oil embargo introduced under Donald Trump in 2019 with the aim of effecting regime change in the country.

Since 2015, the loss has been $232 billion… which in some years meant a 99% loss of our income in foreign currency, she stated, adding that sanctions of that magnitude are a way of completely annihilating entire nations.

Rodriguez said this lack of income translates into the loss of life, food, education and healthcare, and halted and broke down the economic development of Venezuela.

According to the vice president, the USA has imposed more than 20,000 sanctions on 35 countries and is currently at war, either economic or armed, with the entire world, trying to ensure its future existence.

In the case of Venezuela alone, Rodriguez said the USA and its allies have imposed some 929 sanctions on the country since declaring Caracas to be a threat to national security in 2015. Around 60% of these have been imposed by Washington.

The economic war against Venezuela has meant a systematic violation of human rights.

The victim of these sanctions is also the private sector in Venezuela, which has extra-ordinary financial costs – logistics for a Venezuelan businessman are much more expensive than for a businessman from neighboring Colombia, for example, because financial channels and access to raw materials have been blocked.

During the past eight years, Venezuela has suffered one of the largest economic contractions in the history of the Western hemisphere, analysts say.

And while the current US administration allowed energy major Chevron to resume limited oil production in the country late last year, the majority of sanctions remain in place and continue to weigh on the country’s economy.

RT. com / ABC Flash Point News 2023.

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Karl not telling You
Karl not telling You
23-04-23 13:06

The US sanctions on Venezuela, Iran, and many other countries are the reason those countries are poor. It’s time for Americans to end the evil cabal in DC. Hegemonic Terrorist of the world.

23-04-23 13:08

It’s true scandal. The frustrating thing is how Americans always point to Venezuela as a example of a dystopia caused by socialism. They never stop to consider their own hand in actively creating that dystopia though.

Lady Shadow
Lady Shadow
23-04-23 13:08

They should join Russia and start trading by bypassing US Dollars

25-04-23 17:34

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