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Venezuelan Parliament Defies Supreme Court, Petitions OAS to Intervene

National Assembly President Ramos Allup described the Supreme Court’s Sentence “invalid, non-existent and non-binding”. Hi

Legislators from the majority right-wing MUD bloc in parliament have officially petitioned the Organization of American States to intervene in Venezuelan politics, after the Supreme Court blocked their attempts to remove thirteen judges.  

 

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Obama Renews Decree Calling Venezuela a 'Threat'

US President Barack Obama initially signed the executive decree in March 2015 (telesur)

U.S. President Barack Obama renewed Thursday an executive order issued last March that declared Venezuela “an unusual and extraordinary threat to the national security and foreign policy of the United States.”

 

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Venezuelan Parliament Passes “National Production Law” in First Discussion

Venezuela’s National Assembly has been under the majority control of rightwing coalition, the Democratic Roundtable Unity, sin

Venezuela’s leftist government opposes the law, saying that it will privatise state-owned corporations. 

 

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Venezuela Partially Lifts Six-Month Closure of Colombian Border

The Venezuelan-Colombian border was reopened on Saturday after a six-month closure. (Agencias)

The Venezuelan government partially lifted its six-month closure of the Colombian border on Saturday, allowing the crossing of heavy-load vehicles during restricted daytime hours.

 

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Venezuela Makes $1.5 Billion Bond Payment

Venezuela paid USD $1.5 billion in sovereign bonds on Friday. (Archive)

Venezuela made a USD $1.543 billion payment to international bondholders on Friday as part of its 2016 debt obligations amounting to $9.6 billion.

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Venezuela and Canadian Company Sign $5 Billion Gold Mining Deal

Maduro announces the deal with Gold Reserve. (Albaciudad)

The joint venture is part of a negotiated settlement to an arbitration case brought before the International Center for Settlement of Investment Disputes by the Canadian company in 2009, after its Las Brisas concessions were terminated by the Venezuelan government.

 

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Venezuelan’s Maduro Creates Socialist Enterprise System to Kickstart Production

President Maduro speaking with workers at Ana Maria Campo Petrochemical Complex in Zulia state. (Prensa Presidencial)

Venezuelan President Nicolas Maduro announced Monday the creation of the National Productive Corporation as part of new socialist enterprise system aimed at coordinating efforts among existing state, communal, and mixed firms.

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Venezuela Begins Printing 500 and 1000 Bolivar Bills, Signs Oil Deal with Russia

100 Bolivar bills (courtesy)

Venezuela’s Central Bank announced Monday that it would begin printing 500 and 1000 Bolivar bills while phasing out smaller denominations in a bid to keep pace with the country’s soaring inflation.

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Collectives Hijack Polar Company Trucks in Caracas, Protest Hoarding

Photo attached: “Less beer, more food. Release the food Lorenzo Mendoza!” (ElNacional)

The trucks were daubed with graffiti such as “release the food” and “we don’t want poison, we want food for the people”.  

 

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Venezuela’s Maduro Announces String of Emergency Economic Measures

Venezuelan President Nicolas Maduro addressing the nation. (@PresidencialVen)

The economic initiatives include changes to the country’s multi-tiered exchange rate, a rise in the domestic price of gasoline, the implementation of a new tax system, and placing more power over food distribution in the hands of organised communities.

 

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Social Movements Decry Conflict of Interest, as Amnesty Law Passed in First Discussion

The legislation would set free many of those who participated in the 2014 guarimbas (archive).

Venezuela’s opposition-majority National Assembly approved the controversial Amnesty and National Reconciliation Law in first discussion yesterday, which could exonerate dozens convicted of various crimes over the last seventeen years, including those responsible for 2014’s violent anti-government protests known as the guarimbas. 

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Venezuela Arrests 55 State Food Employees in Anti-Corruption Raid

SEBIN arrests state employees accused of corruption. (Twitter)

Venezuelan authorities arrested 55 employees of the Abastos Bicentenario state supermarket chain Monday in the initial phase of a new anti-corruption operation aimed at the government-run food distribution network.

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Top Oil Exporters Agree to Production Freeze as Venezuela Creates Military Oil and Mining Company

Minister Del Pino with his Russian, Saudi, and Qatari counterparts. (Press release)

The governments of Venezuela, Russia, Saudi Arabia, and Qatar reached a deal Tuesday to freeze their crude oil output at January levels following a brief meeting in Doha.

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UPDATED: Venezuelan Businessman Replaces Leftist Sociologist as Economy Czar

New Vice-President for Productive Economy Miguel Pérez Abad. (VTV)

Venezuelan President Nicolas Maduro announced yesterday his decision to appoint the former businessman and sitting commerce minister, Miguel Pérez Abad, as Vice-President for Productive Economy, replacing left-wing political economist Luis Salas after just six weeks in the position.

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Economic Emergency in Effect in Venezuela, as Supreme Court Rules in Favour of Executive

The Venezuelan Supreme Court of Justice released its ruling on Friday 12th of February (telesur).

Venezuela’s top judiciary found that the January 14th executive decree declaring a state of economic emergency in the country is both constitutional and in force. 

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