Russian Lawmaker: U.S. Order to Block Venezuelan Govt’s Property Violates Int’l 

Konstantin Kosachev, the Chairman of the Russian upper house’s foreign affairs committee

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Moscow, Aug. 6, 2019 
The U.S. Executive Order to block the assets of the Venezuelan authorities absolutely contradicts both the international law and the obligations of the U.S., a Russian lawmaker, said.

Konstantin Kosachev, the Chairman of the Russian upper house’s foreign affairs committee stated this in an interview with Sputnik on Tuesday.

On Monday, U.S. President Donald Trump signed the executive order to block property of the Venezuelan government in U.S. jurisdiction, including assets of the national Central Bank and the PDVSA oil company.

PDVSA is the Venezuelan state-owned oil and natural gas company. It has activities in exploration, production, refining and exporting oil as well as exploration and production of natural gas.
Since its founding on Jan 1, 1976 with the nationalisation of the Venezuelan oil industry, PDVSA has dominated the oil industry of Venezuela, the world’s fifth largest oil exporter.

Oil reserves in Venezuela are the largest in the world and the state-owned PDVSA provides the government of Venezuela with substantial funding resources.

Following the Bolivian Revolution, PDVSA was mainly used as a political tool of the government.

Profits were also used to assist the presidency, with funds directed towards allies of the Venezuelan government.

“Of course, the actions of the U.S. can be called legitimate only from the point of view of the domestic U.S. jurisdiction.

“For the rest, they absolutely contradict the fundamental norms of international law, including the UN Charter, and the international obligations of the U.S. itself, including to Venezuela.
“The U.S. has not cared about that for a long time.
“As you know, they adhere to the principle of supremacy of the national law over the international one and its extraterritoriality,” Kosachev said. (dpa/NAN)
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