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US Sanctions affect Belize’s ties with Venezuela

Under the PetroCaribe program, Belize received fuel from Venezuela through a special arrangement. The program was also able to generate monies for the Government of Belize. However, the US sanctions against Venezuela has impacted the program.  Financial Secretary, Joseph Waight explains.

Joseph Waight – Financial Secretary: the problem with Petrocaribe is that there is although there may be a willingness on the part of the Government of Venezuela to PDV, to continue supplying. The problem is the sanctions have really taken effect, The U.S. sanctions and we unfortunately we just have to be collateral damage in that regard, sanctions mean that we cannot pay them. They have shut down the international  banking system as far as Venezuela is concerned so we are unable to pay for any fuel we buy.

 

Waight said that Belize owes Petrocaribe two hundred million US dollars.