Venezuela Passes ‘Anti-Blockade’ Legislation To Allow Confidential Oil Deals Amid US Sanctions

Venezuela has passed new “anti-blockade” legislation aimed at undermining US sanctions that allows President Maduro to sign confidential oil deals with private firms and foreign nations…

Venezuela has been hit with sanction after sanction from the US. And even when they have tried to work with other countries that are in the same situation, Washington has continued to increase the measures against them. On Thursday, Venezuela’s pro-government assembly passed legislation that allows President Nicolas Maduro to sign oil deals with private firms and foreign nations, while keeping it confidential.

In a statement, Venezuela’s National Constituent Assembly President Diosdado Cabello described the law as “an instrument to shield” Venezuela’s economy from the “constant onslaught of the United States government, which seeks to destabilize the country.”

The Trump Administration has openly called for the overthrow of Maduro since it pledged support for Juan Guaido back in 2019. In addition to calling on all of its allies to support the opposition leader, the US provided Guaido with tens of millions of dollars in financial support.

While Maduro found minimal relief when Iran sent tankers with supplies to help refine Venezuela’s crude oil earlier this year, both countries were threatened by the US Military, which went on to seize more than one million barrels of fuel from four Iranian tankers on their way to Venezuela in August.

Constitutional Assembly member Hermann Escarra described the new anti-blockade law as part of the country’s right to defend itself against political pressure from foreign nations, saying, “Since 2015, Venezuela is a victim of sanctions, blockades, and attacks from the U.S. empire. Obama’s decree opened a window for multiple sanctions that since the arrival of Donald Trump have been more aggressive.

The Trump Administration has yet to respond to the latest actions from the leader they now refer to as the “former” president of Venezuela.

Meanwhile, there have also been new developments in the case of a hefty amount of gold Venezuela has stored in the Bank of England. We’re talking about $2 Billion dollars’ worth of gold reserves that Maduro has been trying to gain access to since 2018. But the British High Court cut him off—claiming they now answer to Guaido as the leader of Venezuela. However, this week’s ruling from an Appeal’s Court noted that “Britain had in practice maintained diplomatic relationships with the Maduro administration… and had kept its embassy open in Venezuela.”

So, now the court has ordered the British Government to clarify who it views as the rightful president of Venezuela, in order to decide—once and for all—who will have access to the money.

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Rachel Blevins is a journalist who aspires to break the left/right paradigm in media and politics by pursuing truth and questioning existing narratives.

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