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  • Supporters of Venezuela's President Nicolas Maduro carrying a placard depicting him and waving a Venezuelan flag attend to a campaign rally in Caracas, Venezuela May 4, 2018.

    Supporters of Venezuela's President Nicolas Maduro carrying a placard depicting him and waving a Venezuelan flag attend to a campaign rally in Caracas, Venezuela May 4, 2018. | Photo: Reuters

Published 2 January 2019

Maduro said the economic blockade is meant to persecute the Venezuelan government and its people.

Venezuela President Nicolas Maduro pointed out that the international sanctions applied by the United States and its allies against his country have caused multi-billion dollar losses in 2018 in an effort to suffocate the Venezuelan economy.

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"We have a fierce battle against international sanctions that have caused Venezuela to lose at least 20 billion dollars in 2018," said the Venezuelan leader.

Maduro went on to say that the blockade is meant to persecute the Venezuelan government and its people.

”They hound our bank accounts around the world whenever we try to purchase any products. It is more than a blockade — it is a persecution of our bank accounts, of the businesses that Venezuela has in the world."

The situation with the international company Euroclear is an example of this, said the Venezuelan president. "This company held Venezuela hostage in 2018. 1.4 billion dollars we had already committed to buying medicines, supplies, to buy food, but no one answers."

Meanwhile, the president stressed that Venezuela has repeatedly denounced this persecution in the United Nations and to the secretary of that body, as well as in several agencies, without getting specific answers.

The Venezuelan head of state also noted that since August 2018, the Recovery, Growth and Economic Prosperity Program has been carried out, the purpose of which is to stabilize the country's economy, control induced inflation, and increase the country's production.

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