Citibank Blocks Funds for Insulin: More Than 450,000 Venezuelans Affected

The US bank Citibank blocked, in August this year, part of the funds destined to import 300 thousand doses of insulin, a criminal act that affects more than 450 thousand patients, the Venezuelan Ministry of Economy and Finance reported.

On the other hand, the BSN Medical laboratory, based in Colombia, after receiving payment for the purchase of 2 million units of antimalarial treatment, denied the clearance of the drugs.

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The ministry indicated that this fact caused the Swiss bank UBS AG to block the transactions made by the country with the Pan American Health Organization (PAHO), destined for the purchase of vaccines for the immunization program.

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Given this circumstance, Venezuela and PAHO sought alternatives with banks from other countries, although this situation led to a 4 month delay in the immunization program.

The national government also revealed that other pharmaceutical transnationals such as Pfizer and Novartis refuse to sell medicines, reagents and supplies to Venezuela.

Source URL: La IguanaTV

Translated by JRE/EF

Citibank Blocks Funds for Insulin: More Than 450,000 Venezuelans Affected