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US seizes $30bn in assets of Venezuela through sanctions

Friday, 18 September 2020 2:15 AM [ Last Update: Friday, 18 September 2020 2:25 AM ]

Jesús Silva
Press TV, Caracas

The Venezuelan government says about $30 billion of the Latin country’s assets have been illegally confiscated by the US since Donald Trump took office in 2017. This has inflicted heavy blows on Venezuela as the country is struggling with various economic problems under US sanctions.

An official statement endorsed by the government of Venezuela has established that $30 billion of Venezuelan assets have been illegally confiscated by the United States government during the administration of President Trump.

Through illegal US sanctions, oil refineries, bank accounts and golf reserves, among others, all of which belong to Venezuela, have been taken away by Washington, causing a devastating economic damage to the already crisis-hit South American nation.

Reports say Venezuela’s refining facilities have been operating at about 10 percent of their 1.3 million-barrel-per-day capacity this year under pressure from the American sanctions, forcing authorities to impose rationing at gas stations nationwide over the past two months.

In this context, officials say the US sanctions against Venezuela violate human rights. This comes as the US-backed opposition blames the government for the economic pressure in the country.

Venezuela descended into political turmoil after opposition figure Juan Guido unilaterally declared himself “interim president” in January last year. The US has imposed several rounds of crippling sanctions against the oil-rich South American country aimed at ousting Maduro and replacing him with Guaido.

Legal experts dismissed US sanctions as part of a larger plot by the US against the legal government of Venezuela.

Despite US sanctions, the Venezuelan government has managed to prevent from the economy's total. The government has also said it is going to take the issue of sanctions to international courts to hold the US responsible for what it calls criminal act.

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