Venezuela has lost $642 Billion since US Sanctions regime

Venezuelan condemned Washington DC’s ongoing recolonization efforts against the oil- and gold rich Caribbean nation in order to destroy Venezuela’s democratic system and people’s right to self-determination through a Neo-colonial experiment.

Venezuelan Foreign Affairs Minister Yván Gil, claimed that since 2015, Venezuela has suffered losses exceeding US $642 billion due to cruel and inhumane sanctions affecting every sector of its economy.

This situation has been further aggravated by the seizure of 31 tons of gold held in the Bank of England, two airplanes, and other foreign assets. UN human rights experts and independent economists have labeled the unilateral sanctions as collective punishment.

Since 2017, the US Treasury Department has levied financial sanctions, an export embargo, secondary sanctions, and a raft of other restrictions aimed at strangling Venezuela’s state oil company PdVSA, the country’s most important revenue source.

Speaking at the 79th United Nations General Assembly (UNGA) in New York on Wednesday, Gil highlighted that Venezuela is confronting an onslaught of new forms of colonialism characterized by unilateral sanctions.

Gil criticized a fascist and disinformation campaign orchestrated by the US government and its allies to undermine the legitimacy of the July 28, 2024 presidential election.

According to Venezuela’s electoral authorities, President Nicolás Maduro secured a third term with 6.2 million votes, defeating far-right candidate Edmundo González.

Also, the US-backed regime-change efforts and support for far-right sectors, as well as mercenary operations, which has intensified since the July 28 presidential elections are out of order, according to many nations.

In their respective speeches at the UN, opposition leaders from the USA, Chile, Argentina, Uruguay, and others called for recognition of the Venezuelan US-backed opposition’s unverified victory claims and demanded freedom for the Caribbean nation.

Gil accused US intelligence agencies of involvement in the thwarted operation and the crowdfunding campaign promoting regime change in Venezuela launched earlier this month by notorious mercenary contractor Erik Prince.

Specifically from the US State of Florida, terrorist attacks against public officials and facilities are planned, denounced the Venezuelan diplomat. He urged countries to ensure that their territory is not used to finance, plan, facilitate or commit acts of destabilization.

On Tuesday, Attorney General Tarek William Saab announced that his office had opened a criminal probe into the, so-called “Ya Casi Venezuela” crowdfunding campaign, accusing supporters of being accomplices.

In his UN address, Gil recalled that the Biden administration has not honored the Qatar-brokered agreement established last year with the Venezuelan government. This deal included a commitment to lift all sanctions imposed on the South American nation.

According to Venezuelan Vice President Delcy Rodríguez, 26% of the world’s oil production is under US-led sanctions and Venezuela’s large energy reserves are considered a Geo-strategic target of the Pentagon.

The Venezuelan foreign affairs minister likewise took to the UN podium to address the alarming rise of fascist and Nazi tendencies promoted by oligarchies worldwide and to condemn the ongoing Israeli onslaught and occupation in Palestine.

As we speak in this Assembly, bombs are falling on Gaza, where Israel has killed tens of thousands of innocent children, women, and men, with the complicity of the United States and European Union governments.

Venezuela’s top diplomat warned about the West’s attempt to export hatred and destruction to an entire region, referring to recent bombings in Lebanon and Syria, as well as NATO’s expansion as a threat to peace in South America.

He concluded with a call to rescue the principles of UN Charter and for the Global South and initiatives such as BRICS+ to consolidate a new Pluri-polar and Multi-centric world of peace and economic prosperity, free of Zionist backed hegemonies.

On the sidelines of the 79th UN General Assembly, held between September 24-30, the Venezuelan official held meetings with dozens of Global South representatives and political allies, including Russia, China and Cuba.

Venezuela Analysis / ABC Flash Point News 2024.