Venezuelan VP: U.S. Sanctions Have United Nation in Pursuit of Economic Independence

Venezuelan Vice President Delcy Rodriguez declared that U.S. sanctions have brought Venezuelans together in their efforts to build a diversified economy and achieve economic independence. Rodriguez made the statement during a speech in Caracas on the 214th anniversary of Venezuela's 1810 proclamation of independence from Spain.

According to Rodriguez, the sanctions have strengthened Venezuela's resolve to become economically self-sufficient and develop a more diverse economy, rather than relying primarily on oil exports. She emphasized that the Venezuelan people have the right to demand the lifting of the U.S. blockade, asserting that the more than 900 unilateral measures imposed by the United States against Venezuela violate international law.

President Nicolás Maduro also spoke at the event, inaugurating the First National Expovenezuela Produce 2024. He highlighted Venezuela's goal of supplying the entire territory with national production despite the U.S. sanctions. Maduro stated, "Venezuela does not need permission from 'imperialism' to grow and advance," noting that the country has achieved continuous and sustained economic growth for 11 quarters.

Why this matters: The statements by Venezuelan leaders underscore the ongoing tensions between Venezuela and the United States, as well as the impact of U.S. sanctions on the Venezuelan economy.

The U.S. recently announced it will reimpose sanctions on Venezuela's crucial oil industry after the Maduro government continued its repression of opponents and prevented the democratic opposition from participating in upcoming elections. Despite years of sanctions and pressure, Maduro remains in power, enjoying support from his political patronage system, the military, and allies like Cuba, Russia, and China.

Key Takeaways

• Venezuela's VP says US sanctions have united Venezuelans to build a diversified economy.
• Maduro inaugurates National Expovenezuela Produce 2024 to supply Venezuela with domestic production.
• Venezuela rejects "imperialism" and claims it does not need US permission to grow economically.
• US to reimpose sanctions on Venezuela's oil industry, altering crude flows to Asia.