Amid economic crisis, Venezuela’s Maduro directs anger at US

CARACAS — Thousands of Venezuelans marched in Caracas yesterday in rejection of US sanctions against Venezuelan officials as President Nicolás Maduro hit out at “insolent Yankees” who interfere in his country’s domestic affairs.

The Socialist leader, who replaced the late Hugo Chávez last year and is seeing his popularity fall amid a deep economic crisis, was addressing thousands of red-clad supporters at a rally in Caracas to protest against the US sanctions plan, which was approved by Congress this week and US President Barack Obama has said will turn into law.

Thousands of Venezuelans marched yesterday bearing signs with slogans such as “respect Venezuela” and “Yankee go home.”

“They can shove their US visas where they should be shoved, insolent Yankees!” Maduro thundered, as he denounced Washington’s interference.

Obama plans to sign the legislation to deny visas and freeze assets of Venezuelan officials accused of repressing anti-Maduro protests earlier this year, which left at least forty dead.

The sanctions issue has provided Maduro a nationalist rallying-cry to try and revive his popularity at the end of a tough year for Venezuela which is suffering widespread shortages of basic products and the worst inflation in the Americas.

The sharp drop in the price of oil over the last six months has seriously complicated Caracas’ efforts to regain control of the economy.

Oil makes up 96 percent of Venezuela’s earnings from exports. Bank of America estimates that every US$1 drop in the global price of oil costs Venezuela US$770 million in annual revenue. Current prices are now US$46 below last year's average, putting the country on pace for a US$36-billion reduction in revenue.

Having recently slammed Spanish Prime Minister Mariano Rajoy over his call for a jailed opponent to be released, the Venezuelan president said yesterday he would not retract his words despite the controversy caused in Europe.

“The Spanish right wing gets annoyed because I tell the truth. I’m not taking back a single comma or full-stop,” he said, before turning on Aznar, a long-time enemy of Venezuela’s 15-year-old Socialist government.

“Aznar is a murderer ... His hands are covered in blood,” Maduro said, citing the Spaniard’s support of the US-led invasion of Iraq in 2003 to topple Saddam Hussein.

Jailed Leopoldo López has become the most visible face of the anti-Maduro campaign outside Venezuela, with his wife meeting with several figures — including Rajoy — in a bid to gain support to pressure Caracas into freeing her husband. The radical opposition leader has been accused of inciting violence at anti-government protests and has been in prison since February 18.

Herald with AP, Reuters