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Venezuela plans to invest Petrocaribe monies in Belize

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Petrocaribe monies being withheld in Belize due to an inability to transfer payments for shipments to Venezuela, will be used to finance social projects in Belize. At a press conference held today by the Embassy of Venezuela, Charge D’Affairs, Mykel Lenin Castillo Peña explained that sanctions placed by the United States have caused more than fourteen million US dollars to be retained in Belize. These monies are payments for fuel under the Petrocaribe Agreement. Viewers may recall that in March it took about two weeks to unload a shipment of fuel that had arrived in Belize under the Petrocaribe Agreement. That is because payment for the shipment was rejected on four occasions. This was because PDVSA did not have access to international banks as a result of sanctions by the US. According to Peña, it was not because they, PDVSA or the Belize government, could not pay up. And so, while monies remain in Belize, the Venezuelan government is thinking of putting the money to use in Belize.


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