Major Global Powers Ordered to Stop Trading Gold Assets with Maduro

via CNBC:

  • It comes at a time when political tensions in Venezuela are reaching boiling point, with the oil-rich, but cash-poor, country in the midst of the Western Hemisphere’s worst humanitarian crisis in recent memory.
  • In a statement published Monday, 11 of the 14 members of the Lima Group called for world powers to “take measures to prevent the Maduro regime … from doing business in oil, gold and other assets.”
  • Growing unrest in Venezuela follows years of economic mismanagement, repression and corruption.

A coalition group of Latin American countries and Canada has urged the Venezuelan military to sever ties with President Nicolas Maduro.

It comes at a time when political tensions in Venezuela are reaching boiling point, with the oil-rich, but cash-poor, country in the midst of the Western Hemisphere’s worst humanitarian crisis in recent memory.

In a statement published Monday, 11 of the 14 members of the Lima Group called for a “peaceful transition through political and diplomatic means without the use of force.”

The group also underscored the need for an urgent delivery of humanitarian aid and insisted international governments “take measures to prevent the Maduro regime … from doing business in oil, gold and other assets.”

What’s going on?

Major global powers, including the U.S., have publicly recognized opposition leader Juan Guaido as Venezuela’s legitimate interim president.

Guaido’s declaration as the rightful leader of the South American country takes Venezuela into uncharted territory. That’s because there is now an internationally recognized opposition — without control over state functions — running a parallel government to Maduro.

 

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