Venezuela loses $232 billion in eight years due to US sanctions

Venezuela has lost $232 billion in eight years due to Western sanctions.

According to TASS, this was stated by the executive vice president of the country, Delcy Rodriguez.

“Since 2015, we have been losing about $29 billion annually,” she said live on the state TV channel Venezolana de Televisión at the seminar “People's Unity to Rebuild the Venezuelan Economy under the International Blockade”.

According to her, after the introduction of illegal restrictive measures by the United States, "Venezuela lost $232 billion, which in some years meant the loss of 99 per cent of foreign exchange earnings."

The most painful for Venezuela are the ban on oil exports and severe restrictions imposed by the United States in 2019 against the state oil and gas company PDVSA, Rodriguez noted and stressed that the lack of funds "leads to loss of life" and "stops economic development."