Venezuelans march in Caracas with posters that say "Sanctions are a crime." Photo: VTV.
On Wednesday, the secretary general of the United Nations, António Guterres, authorized the corresponding permits for the management of the Fund for the Social Protection of the Venezuelan People, according to US-based outlet Bloomberg. The authorization comes almost a year after the Second Partial Agreement for the Protection of the Venezuelan People was signed between delegations of the Venezuelan government and the opposition’s Unitary Platform during the Mexico Talks.
Bloomberg reported that the authorization granted the administration access to a fund with US$3.2 billion, but it is not expected to be operational immediately. For that to happen, the UN has to comply with some procedures and the funds that may be transferred must also be identified.
This US$3.2 billion actually belongs to Venezuela and is not “aid” from the UN. These funds consist of deposits in Venezuela’s foreign bank accounts that were seized by the United States through unilateral coercive measures applied through the US Treasury’s Office of Foreign Assets Control (OFAC).
In November last year, the government of President Nicolás Maduro suspended the talks and denounced the United States and the Venezuelan opposition for their non-compliance with the signed agreement. However, the new authorization for funds management was announced after the talks were resumed in Barbados this month and two new agreements were signed between the two sides.
Venezuela’s Government Delegation Signs 2 Agreements in Barbados to Resume Peace Talks
This social protection fund will be used to address four fundamental areas: education, health, food security, and the electricity system. Its administration will be implemented by the United Nations agencies present in Venezuela.
However, this is the third time that such authorization has been announced by the UN. Venezuelans are yet to see a single dime of those funds that legally belong to them. Therefore, it remains to be seen when, and if, the funds are ultimately transferred to Venezuela for the social protection of the people.
(Misión Verdad) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/SC/DZ
Misión Verdad
Misión Verdad is a Venezuelan investigative journalism website with a socialist perspective in defense of the Bolivarian Revolution
