Post #1316

The Venezuelan government has won a legal battle to recover approximately 1.35 billion Euros (some 1.5 billion US dollars) frozen since 2019 by Portugal’s Novo Banco. On Wednesday, Information Minister Freddy Ñañez published the ruling by the Central Civil Court of Lisbon, dated July 31, ordering the private bank to transfer the funds to accounts held by nine Venezuelan entities, including state oil company PDVSA, joint oil ventures, and the Venezuelan Economic and Social Development Bank (BANDES). In a communique, the Venezuelan Foreign Ministry celebrated the court’s order to release the retained funds. “This constitutes a clear victory of the Venezuelan people against the strategy promoted by foreign powers and local politicians to appropriate the country’s resources and cause suffering to the population,” the statement read. https://venezuelanalysis.com/news/15828