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Wednesday 30th
posted by James Tweedie in World

VENEZUELA will join the Brics development bank to break the US economic stranglehold, the new Constituent Assembly’s chair said on Monday.

Assembly president Delcy Rodriguez, who was previously the foreign minister, revealed Venezuela’s plan to join the Brics’ New Development Bank (NDB) at a wide-ranging press conference in Caracas.

Responding to a question from the Morning Star via video, she said the government was awaiting the NDB’s response to its application, which the assembly would support.

Brics comprises powerhouse developing nations Brazil, Russia, India, China and South Africa, which together represent 42 per cent of the world’s population and 27 per cent of the global economy.

Ms Rodriguez said financial sanctions announced by Washington last week would only strengthen Venezuela’s resolve to break US hegemony over a unipolar world.

She said the moratorium on US investment “seeks to besiege Venezuela,” but “a new world is opening that the US will not lead.

“Venezuela has excellent relations with this new world, which exerts leadership to guarantee peace, stability and security at the international level,” Ms Rodriguez said.

“How do we overcome the sanctions? By deepening our strategic relationship with Russia, China, India, Iran and other poles.”

Ms Rodriguez stressed the US sanctions were not only directed against government officials and institutions but “seek to affect the entire people.”

She said the assembly had backed any action by President Nicolas Maduro against the US threat and existed for the “defence of sovereignty.

“Venezuela does not recognise imperial law, much less external jurisdiction,” Ms Rodriguez insisted.