Venezuela Plans to Drop US Dollar in Gas, Oil Trade

39;More than 600' Venezuelan opposition figures jailed
Merkel: European Union May Also Slap Sanctions on Venezuelan Dictatorship
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10 September, 2017

Borges heads Venezuela's opposition-controlled National Assembly, which has been effectively nullified by the assembly at which Maduro was speaking. The opposition leader held meetings this week with the leaders of France, Spain, Germany, and Britain.

"It makes no difference to me what Merkel says or the queen of England, in Venezuela we have justice".

President Maduro of Venezuela said that he would not take orders from London after Theresa May condemned the country's dramatic slide towards a one-party state.

The meeting is the latest in a European tour that has seen Borges meet with French President Emmanuel Macron on Monday, Spanish Prime Minister Mariano Rajoy on Tuesday and German Chancellor Angela Merkel on Wednesday.

Maduro accused Borges of conspiring with US President Donald Trump, who recently imposed tough new sanctions on Caracas.

The Prime Minister dropped in on a meeting with Antonieta Lopez and Julio Borges, the president of the Venezuelan National Assembly, being hosted by Foreign Office minister Sir Alan Duncan at Number 10.

Mrs May later said: "We have been consistent in our condemnation of the actions of the Venezuelan Government and in our unwavering support for the National Assembly as a democratic institution". The unrest, which first broke out in April, has so far led to the death of at least 120 people from the two sides.

Venezuelan President Nicolas Maduro said Friday his country was going to trade in oil, gas and gold using currencies other than the United States dollar, in response to Washington's new financial sanctions.

Venezuelan President Nicolas Maduro said on Thursday his cash-strapped country would seek to "free" itself from the USA dollar next week, using the weakest of two official foreign exchange regimes and a basket of currencies.

"I have chose to start selling gas, oil, gold and other commodities sold by Venezuela using other currencies, including the Chinese yuan, the Japanese yen, the Russian ruble, and the Indian rupee", he said in a televised address.

On Thursday night, he increased the country's minimum wage by 40 percent, taking it to just over $7 per month at the black market exchange rate. He also announced that almost 50 "essential" products and services would have their prices frozen at new levels.

The controversial new body was elected in July despite widespread opposition from the West and major Latin American nations, which called its formation a blatant power-grab by Maduro.


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