Venezuela

• Friday, September 15th 2017 - 07:38 UTC

  Venezuela plans to abandon the dollar; greenback currently sells for 22.400 Bolivar

  

  Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system, following an announcement last week that it was moving away from the greenback in response to U.S. sanctions. The United States in August prohibited dealings in new debt from Venezuela and state oil company PDVSA in response to the creation of a new legislative super-body that critics call the consolidation of a dictatorship.

• Friday, September 8th 2017 - 08:49 UTC

  Hyperinflation hits Venezuela in August; US dollar exchange at 20.000 Bolivar

  

  Venezuela's monthly inflation rate jumped to 33.8% in August, with food price rises reaching hyperinflationary levels above 50%, the opposition-controlled National Assembly said on Thursday.

• Wednesday, September 6th 2017 - 07:23 UTC

  Spain pushing EU to adopt measures against members of Venezuela's government

  

  Spain is pushing for the European Union to adopt restrictive measures against members of the Venezuelan government as a way of encouraging a return to constitutional order in the crisis-hit country, the Spanish foreign ministry said on Tuesday.

• Saturday, August 26th 2017 - 08:17 UTC

  Maduro reacts to Trump's sanctions: “we will sell our oil to other markets”

  

  Venezuela's President Nicolás Maduro has said that a preliminary analysis shows that new financial sanctions imposed by the United States will lead to a halt in oil exports to the US. President Trump's order bans trade in Venezuelan debt and blocks its state oil firm from selling bonds in the US.

• Thursday, August 24th 2017 - 10:07 UTC

  Venezuela ousted chief prosecutor says she has evidence of Maduro and allies corruption

  

  Venezuela's recently ousted chief prosecutor accused President Nicolas Maduro and several allies on Wednesday of participating in acts of corruption, saying she would turn over proof that would help other countries prosecute. Venezuela's government quickly fired back, accusing Luisa Ortega Diaz of “grave moral and ethical infractions.”

• Wednesday, August 23rd 2017 - 09:25 UTC

  British minister condemns removal of legislative powers from Venezuelan elected National Assembly

  

  The British Minister for Europe and the Americas, Sir Alan Duncan, strongly condemned the decision from the Venezuela Constituent Assembly announcing it will take over the established National Assembly's powers.

• Friday, August 18th 2017 - 08:50 UTC

  Venezuela begins systematic purge of the regime's opponents

  

  Venezuela’s high court issued an arrest order for the ousted chief prosecutor’s husband on Thursday after authorities accused him of running a US$6 million extortion ring, a ruling promptly denounced by government critics as a move aimed at silencing opponents of President Nicolas Maduro.

• Saturday, August 12th 2017 - 08:14 UTC

  Trump´s military threat “an act of craziness”, says Venezuela´s defense minister

  

  U.S. President Donald Trump's threat of military intervention in Venezuela was “an act of craziness,” the country's Defense Minister Vladimir Padrino said on Friday. Venezuela's foreign ministry was expected to issue a statement on Saturday responding to Trump's comment that “a possible military option” was under consideration for the crisis-racked nation.

• Thursday, August 10th 2017 - 11:27 UTC

  Triple digit inflation in Venezuela: US dollar trades at 10.387 Bolivar; minimum wage 97.531 Bolivar

  

  The extreme volatility of Venezuela's exchange rate has the crisis-hit country's shop owners hurriedly marking up their merchandise and consumers balking at the higher price tags. Just last week, the Bolivar currency fell around 70% on the black market, according to DolarToday, the opaque U.S.-based website that dictates the black market rate.

• Thursday, August 10th 2017 - 07:47 UTC

  Washington imposes more sanctions in Venezuela: eight more top officials including a Chavez brother

  

  Washington imposed sanctions on eight Venezuelan officials on Wednesday for their role in creating an all-powerful legislative body loyal to President Nicolas Maduro, while a mayor-turned-fugitive called for more anti-government protests. The new U.S. sanctions targeted politicians (including a brother of ex leader Hugo Chavez) and security figures but stopped short of actions against Venezuela's vital oil industry.