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<div class="header reader-header reader-show-element"> <font
size="-2"><a class="domain reader-domain"
href="https://www.telesurenglish.net/news/Portugal-Bank-Kidnaps-Over-US1.7-Billion-in-Venezuelan-Cash-20190510-0008.html">https://www.telesurenglish.net/news/Portugal-Bank-Kidnaps-Over-US1.7-Billion-in-Venezuelan-Cash-20190510-0008.html</a></font>
<h1 class="reader-title">Portugal Bank Kidnaps Over US $1.7
Billion in Venezuelan Cash</h1>
May 10, 2019</div>
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<p><a
href="https://www.telesurenglish.net/news/Maduro-Marches-With-Army-The-Future-of-Venezuela-Is-Peace-20190502-0009.html"
target="_blank">President Nicolas Maduro</a> has
denounced the fact that several foreign countries are
blocking funds from being transferred to
Venezuelan government bank accounts. One of them is
Portugal whose Novo Banco has blocked US $1.726 billion
from making its way to Venezuela where the Maduro
administration intended to use the funds to
purchase basic goods for the Venezuelan people.</p>
<p>"I ask the Portuguese government to issue a statement.
The Novo Banco kidnapped US$1,726 million which were
meant to purchase medicines, food and supplies," said
Maduro during a press conference Thursday.</p>
<p>"I will not tire of denouncing the U.S. government of
stealing more than US $30 billion from Venezuela,”
tweeted the Bolivarian president, who added that his
country will increase its defense against United States <a
href="https://www.telesurenglish.net/news/Trump-Admin-Wants-500M-to-Fund-Its-Intervention-in-Venezuela-20190312-0007.html"
target="_blank">President Donald Trump's</a> imperialist blockade that
is an "inhuman sabotage against all our imports."</p>
<p>Venezuela is currently conducting a global campaign to
denounce the U.S. financial blockade and economic
sanctions that for nearly two years have prevented the
purchase of medicines and food and impede the
development of the South American nation.</p>
<p>Since <a
href="https://www.state.gov/e/eb/tfs/spi/venezuela/"
target="_blank">January 2019 </a>alone, the Trump
administration has slapped sanctions on the state-run
Petroleos de Venezuela, S.A. (PDVSA), its Central
Bank and individuals working in the South American
country's gold industry. These decrees have made it
impossible for the Venezuelan government to transfer
funds or pay its debts, driving down the economy. </p>
<p><strong>"Trump's appropriation of Venezuelan financial
resources: Bank of England US$1,359 million, Citibank
US$220 million, Bank of Glemstrem US$509 million,
North Capita US$267 million, Novo Bank US$1,726
million, Sumitomo US$467 million. Trump Unblock
Venezuela."</strong></p>
<p>In April, the U.S.-based <a
href="https://www.telesurenglish.net/news/US-Sanctions-Killed-Over-40000-Venezuelans-Since-2017-20190425-0015.html"
target="_blank">Center for Economic and Policy
Research (CEPR)</a> released an study demonstrating
that Trump’s sanctions against the Latin American
country are responsible for the death of more than
40,000 people due to the lack of timely health care.</p>
<p>Venezuelans on Thursday demonstrated outside the
Portuguese embassy in Caracas to demand the inmediate
release of their financial resources.</p>
<p>Most of the protesters were senior citizens who carried
banners that read: "Release our medicine, Portugal"; "We
need health supplies"; "Say No to the U.S. blockade" and
"Respect Venezuela."</p>
<p>According to an investigation by the Latin American
Geopolitical Strategic Center (Celag), the financial
blockade against Venezuela prompted a decrease in the
Venezuelan gross domestic product equivalent to US$350
billion between 2013 and 2017.</p>
<p>It was reported back in January that Novo Banco had
blocked the transfer of at least US$1.2 billion to
Venezuela from the financial entity that is 75
percent-owned by U.S. private equity firm Lone Star
Funds.</p>
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