Venezuela’s National Constitutional Assembly (ACN) passed the Anti-Blockade Bill for the National Development and Human Rights Guarantee on Thursday, which will allow the Venezuelan government to protect its citizens from U.S. sanctions against the South American nation.
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"This law is an instrument to shield the economy of the country from the constant onslaught of the United States government, which seeks to destabilize the country,” said the president of the ACN, Diosdado Cabello.
The lawmakers and other political figures debated the bill's importance, as the law ensures compensatory payment and the economic balance of the nation. The norm also protects providers from economic instability and financial harm caused by U.S. sanctions.
The constituent legislator Jesus Farias pointed out that international financial bodies had denied financial aid to Venezuela, despite the economic harm that the nation suffers due to the pandemic. The norm also aims to secure the Venezuelan currency, the Bolivar, as well as another domestic patrimony.
"Since 2015, Venezuela is a victim of sanctions, blockades, and attacks from the U.S. empire. Obama's decree opened a window for multiple sanctions that since the arrival of Donald Trump have been more aggressive, which have the sole purpose of destabilizing the economy of the country," said constituent lawmaker Hermann Escarra.
Escarra also pointed out that the anti-blockade bill follows the Venezuelan Constitution and represents the Venezuelan people's right to self-defense against political pressure, economic sanctions, and imperialism interference.
After its approval, the bill will be handed to the Council of State to request from Constitutional Chamber of the Supreme Court of Justice (TSJ) its assessment on the constitutionality of this Anti-Blockade Law.
"All this is to shield us, not only for the circumstantial and political moment but to armor us against the imperialist blockade from now on, legally, ethically, to armor the nation," President Nicolas Maduro said in the presentation of the bill.