Venezuela Opposes US Sanctions Against State-Controlled BANDES Bank - Foreign Ministry

The Venezuelan Foreign Ministry criticized the US "illegal" sanctions imposed on the state-controlled Venezuelan Economic and Social Development Bank (BANDES) and its subsidiaries

MEXICO CITY (UrduPoint News / Sputnik - 23rd March, 2019) The Venezuelan Foreign Ministry criticized the US "illegal" sanctions imposed on the state-controlled Venezuelan Economic and Social Development Bank (BANDES) and its subsidiaries.

The restrictions were announced on Friday. The US Treasury said the sanctions were being imposed in response to the arrest of Roberto Marrero, the aide to Venezuela's self-proclaimed interim president Juan Guaido, by the government of President Nicolas Maduro. US Treasury Secretary Steven Mnuchin claimed that Maduro was using BANDES and its subsidiaries to move funds abroad in an attempt to hold onto power.

"The Bolivarian Republic of Venezuela rejects the unilateral, coercive and illegal measures announced by the supremacist US administration against the Venezuelan Economic and Social Bank (BANDES) and four other financial institutions of the country," the Foreign Ministry wrote on Twitter on Friday.

The ministry also published a communique, blasting sanctions as an attack on the "financial core of the Venezuelan people.

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The US move affects nearly 24 million people in Venezuela, according to Caracas.

The ministry argued that the United States offered its "fake humanitarian aid" to Venezuela, at the same time undermining the country's capacities through direct sanctions against energy company PDVSA, gold miner Minerven and BANDES.

Venezuela currently faces a political crisis.

In January, Guaido, backed by the United States, declared himself the interim president of Venezuela after disputing Maduro's re-election last May. Washington immediately endorsed Guaido, called on Maduro to step down and seized billions of Dollars' worth of Venezuela's oil assets.

Maduro has accused the United States of trying to orchestrate a coup in order to install Guaido as a puppet leader beholden to Washington. Russia, China, Cuba, Bolivia, Turkey and a number of other countries have voiced their support for Maduro as the only legitimate president of Venezuela.