Lawmakers in Venezuela passed a bill on Tuesday that criminalizes several activities that hinder trade and commerce in the South American country, such as the seizure of oil tankers.
According to the amended law, anyone who promotes, requests, supports, finances or participates in “piracy, blockade or other international illegal acts” against commercial entities operating in the South American country could face fines and up to 20 years in prison.
The new law, which was introduced, debated and passed within two months, comes after US forces seized two tankers carrying Venezuelan oil in international waters this month.
It also directs the executive branch to come up with “incentives and mechanisms for economic, commercial and other security” for national or foreign entities doing business with Venezuela in the event of piracy activities, maritime blockade or other illegal acts.
While Parliament has endorsed the bill, it will only take effect after receiving approval from President Nicolas Maduro.
Venezuela protests seizure of tankers at UN emergency meeting
The South American country called for an emergency UN Security Council meeting focused on its escalating conflict with the US, during which its UN Ambassador Samuel Moncada accused the US of acting “outside international law”.
“What right does the United States government have to expropriate Venezuela’s nearly 4 million barrels of oil to date?”. Moncada asked, referring to the cargo of the two tankers seized.
He said, “This so-called naval blockade is essentially a military action aimed at laying siege to the Venezuelan nation… creating internal chaos in order to encourage the aggression of external forces.”
Several countries also expressed concerns about violations of international maritime law, and China and Russia accused the United States of “bullying” and “cowboy-like conduct” toward Venezuela at a heated UN emergency meeting. A small number of countries, including Panama and Argentina, supported the US in the meeting.
What did America say?
Seizing oil tankers is the latest tactic used by US President Donald Trump to put pressure on Venezuelan leader Nicolas Maduro.
At the UN meeting, the US said it would impose sanctions to the maximum extent possible to deprive Venezuelan President Nicolas Maduro of resources that Washington accuses him of using to fund the Cartel de los Soles.
“Maduro’s ability to sell Venezuelan oil enables his fraudulent claim to power and his narco-terrorist activities,” US envoy Mike Waltz told the 15-member council.
Edited by Darko Janjevic