Post #1336

Billions in frozen Venezuelan assets destined for a social fund to be invested in education, healthcare and infrastructure repairs are expected to be released soon, El País reported Friday. In November the Nicolás Maduro government and the hardline opposition agreed to a US$ 3 billion fund, to be drawn from Venezuelan assets abroad, as part of negotiations held in Mexico and mediated by Norway. A statement released at the time of the agreement said the money, to be administered by the United Nations (UN), would primarily be used to acquire medical equipment as well as vaccines, medicines, and other supplies; strengthen the electric system; repair school infrastructure; and expand food programs. However, the resources were not released due to administrative barriers imposed by the United States. US President Joe Biden has largely kept in place a strict sanctions program on Venezuela designed to secure regime change in the country. Washington maintains that its sanctions are aimed at “restoring democracy” in the Caribbean country. Meanwhile, Caracas considers these frozen assets to have been illegally seized by the US and its allies. https://venezuelanalysis.com/news/15846