AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Follow us

MEXICO CITY: Venezuela's government and opposition have asked the United Nations to manage billions of dollars held in foreign banks, which will be gradually unfrozen to combat a humanitarian crisis in the oil-rich nation, delegates announced in Mexico City on Saturday.

Sources told Reuters last month the frozen funds amount to more than $3 billion. Following the announcement, the U.S. Treasury Department granted a license for oil firm Chevron to expand its operations in Venezuela, allowing it to import Venezuelan crude into the United States.

Norwegian mediator Dag Nylander hailed the agreement as a "historic milestone" though the country's crisis could only be solved by Venezuelans themselves.

Venezuelan government representatives had arrived in Mexico City on Friday to sign an agreement with their political opponents, after talks between the two sides have been on ice for more than a year. The government's delegation was led by congressional leader Jorge Rodriguez of Venezuela's ruling United Socialist Party (PSUV), and the opposition group was headed by politician Gerardo Blyde.

The "social protection" fund could help prevent Venezuelans from fleeing their country by improving access to food, medicine and medical care, and by financing infrastructure projects to repair the country's electricity grid.

US welcomes Venezuela accord as 'steps in the right direction'

The fund is part of a broad agenda that covers U.S. sanctions on Venezuela, conditions for the 2024 presidential elections and the status of hundreds of political prisoners.

However, these issues will not be discussed in this round of talks.

More than 7.1 million Venezuelans have left their country according to U.N. estimates this year, many migrating to other Latin American countries or the United States, as the country battles high inflation, food and medicine shortages.

More than half of Venezuelan migrants do not have access to three meals a day, U.N. estimates showed.

In Venezuela itself, more than half of the population experienced moderate or severe food insecurity last year, according to a survey by local universities.

Comments

Comments are closed.

Venezuela's frozen funds to be gradually released for humanitarian aid

B2B barter trade mechanism: MoC empowered to impose conditions, curbs

Power tariff raise proposal not firmed up

In 2 weeks: Indus Motor increases Toyota car prices again as rupee’s fall bites

FM Bilawal to visit Russia on January 29-30

CDWP approves seven projects worth Rs22bn

Two Indian air force jets crash, one pilot killed

Tarin raises the alarm about inflation surge

Exchange rate: Removal of cap to inject stability into currency market: Bostan

MSCI seeks feedback on Adani Group over Hindenburg report

Dar challenges financial figures presented by IK