NAM To Study Sanctions Effects by World Powers: Arreaza

Venezuelan Foreign Minister Jorge Arreaza said Monday that the Non-Aligned Movement (NAM) agreed to set up a working group to study how sovereign countries deal with coercive measures by hegemonic countries. 

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"Our movement is going to set up a working group that is going to devote itself to seeing how countries face and overcome the effects of these sanctions," Arreaza said during the ministerial meeting of the NAM which took place on July 20-21 in the Venezuelan capital Caracas. 

Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (Co-BNAM) began Saturday in Caracas in which the member countries condemned the United State’s continued hostile policies toward Venezuela and called for stronger multilateralism against the hegemony of powerful nations that undermine the world order and international law.

Arreaza also said during the meeting of the political bureau of NAM, the United Nations Charter was reaffirmed which upholds principles of self-determination and the rejection of the use of force that threatens the political and territorial integrity of any country.

"We reject unilateralism, we urge seeking options to protect the states that suffer aggressions from the great poles of power," Arreaza reiterated. 

According to the organization, the Non-Aligned Movement was formally established in 1961 after initial talks to form the organization began six years earlier at the African-Asia Conference.

It was founded by member states "during the collapse of the colonial system and the rise of independence struggles across Africa, Asia, and Latin America" during the Cold War. The main motto of the movement was to not ally with any of the two superpowers during the time, namely, the U.S. and Soviet Russia.