Florida passes law blocking state investment in Venezuela

Florida passes law blocking state investment in Venezuela
Venezuelan President Nicolas Maduro
Venezuelan President Nicolas Maduro

(AFP) – Florida lawmakers on Thursday passed a law prohibiting the US state from investing in companies that have business ties with the Venezuelan government.

Citing the socialist government’s “use of extreme violence and political persecution,” the law will now appear before state governor Rick Scott, who has expressed backing for the measure in the past and is expected to sign the bill this week or next.

“Together, we will continue to shine a light on the unacceptable political tyranny and violence that is inflicted by Maduro and his ruthless thugs,” Scott said in a statement.

The state Congress hopes the bill will go into effect by July 1 this year.

The law prohibits the State Board of Administration from investing in stocks or other securities with any company that has business links with Caracas.

Florida taxpayer money may also not be used to trade with financial institutions or companies that extend credit to the Venezuelan government or to buy bonds or services which might benefit President Nicolas Maduro’s administration.

“This legislation strengthens Florida’s opposition to Maduro’s brutal and oppressive regime,” said Republican representative Jeanette Nunez.

“I want to thank Governor Scott on his leadership and commitment to the Venezuelan people. Together, we will keep fighting to bring democracy to the people of Venezuela.”

The bill was drawn up last July by Democratic Senator Jose Javier Rodriguez after the US investment giant bought up almost $3 billion in Venezuelan government bonds for around a third of their face value.

The deal sparked the fury of the Venezuelan opposition, who accused Goldman Sachs of supporting a “dictatorship.”

Scott quickly expressed his backing for the legal measure, and met with Venezuelan community leaders in Florida.

“The Maduro regime is hurting and oppressing Venezuelan families more and more each day and I have been absolutely clear that the State of Florida will not stand for it,” he said.

One of those leaders, Carlos Vecchio — exiled political coordinator of the centrist Voluntad Popular party — said he hopes the law will inspire other states to take similar action.


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  1. Not surprised that this law was enacted; the fascists are getting desperate that their plan to control Venezuela's oil production is being stopped by the very people they hope to bring the US brand of democracy to.

    Here is an objective view of the situation in Venezuela, as of the middle of February, 2018:

    Copy the phrase - will venezuelan masses still stand maduro election time.Black Agenda Report - into your favourite search engine to see the full article.

    I have taken this measures to share informative links, because those who control these aggregated "news" website, use the addition of urls/links in the body of a comment as an excuse for them to practice delayed censorship; making one's comment published only after the article has been taken off the front webpage.

    For example, I am making these comments at 11:44 on Friday, March 9, 2018. The watchers on this site will only allow my comments to show up, perhaps on Monday afternoon, March 12, after they have swamped the frontpage with fresh "news."


    • You are totally clueless about oil production. Look at it. Venezuelans and people around the world do not eat oil.

      Otherwise, the hapless Venezuelans would not today be finding themselves being locked in neighbouring countries in their search for food, medicine, and so on.

      Saudi Arabia is today planning a future away from its dependence on oil. The "swing producer" in OPEC today, does not see a long-term future with oil.

      Venezuelan crude has output refineries that can specially refine its type of oil, but they reside only in the United States.

      The growing trend towards renewables has been set back some, by the election of Trump. But carbon-based fuels as major sources of energy are on their way out.

      Venezuelan leaders are at the point where we were when the bottom fell off the banana market. Like us they had no clue regarding diversifying their economy. Today, we again have a one-leg "bichie" mentality. How far and fast can we go on that?


      • The issue is that the US does not even have a "béquille" to stand on, so they are scouring around stealing "béquilles", black is white!


  2. There are too many Castro followers in the English-speaking Caribbean government or opposition today.


    • The problem is that there are not enough Castro followers, and way too many house negroes whose lives don't matter much unless they please some whiteys.


      • You prefer to be a communist Smiling Sambo. You have the mentality of a brainwashed Smiling Sambo.

        I hope you are not Saint Lucian. Ass%$#@ like you make me shudder to think where this country would be, if you were actively involved in local politics. You educated jackass!


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