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Venezuela Hopes To Join New Brics Development Bank

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VENEZUELA will join the Brics development bank to break the US economic stranglehold, the new Constituent Assembly’s chair said on Monday.
Assembly president Delcy Rodriguez, who was previously the foreign minister, revealed Venezuela’s plan to join the Brics’ New Development Bank (NDB) at a wide-ranging press conference in Caracas.
Responding to a question from the Morning Star via video, she said the government was awaiting the NDB’s response to its application, which the assembly would support.
Brics comprises powerhouse developing nations Brazil, Russia, India, China and South Africa, which together represent 42 per cent of the world’s population and 27 per cent of the global economy.
Ms Rodriguez said financial sanctions announced by Washington last week would only strengthen Venezuela’s resolve to break US hegemony over a unipolar world.
She said the moratorium on US investment “seeks to besiege Venezuela,” but “a new world is opening that the US will not lead.
“Venezuela has excellent relations with this new world, which exerts leadership to guarantee peace, stability and security at the international level,” Ms Rodriguez said.
“How do we overcome the sanctions? By deepening our strategic relationship with Russia, China, India, Iran and other poles.”
Ms Rodriguez stressed the US sanctions were not only directed against government officials and institutions but “seek to affect the entire people.”
She said the assembly had backed any action by President Nicolas Maduro against the US threat and existed for the “defence of sovereignty.
“Venezuela does not recognise imperial law, much less external jurisdiction,” Ms Rodriguez insisted.

Article first published in http://morningstaronline.co.uk

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5 Comments

  1. BRICS is in a more powerful position now than when it was formed because of the Renmibi inclusion as a a Reserve currencey.

    This threatens the west so much so that they have made it their 21St Century foreign policy priority.

  2. Thus said, BRICS needs more and more countries to join in, in order to break the monopoly of the BRETTON WOODS ORGANIZATIONS and instill an global economic order consistent with the aspirations of the masses of the world.

  3. My problem with BRICS which I will include in my article is the fact that unlike the Western Nations, THEY DO NOT LOOK OUT FOR EACH OTHER ESPECIALLY MILITARILY.

    Until they start talking about how to create an equivalent of NATO, they will forever get stuck in economic issues that gets sabotaged militarily by the west.

    Case in point being the potential escalation between India and China over border dispute of Bhutan.

    The US finally found something to use against China, by extension BRICS, using INDIA to resuscitate the age old dispute over Sittim border.

    Of course we know it has nothing to do with the Border dispute because there are agreements struck with previous Presidents about it.

    It’s about using a western incline Narendra Modi Presidency to break the BRICS.

    China’s OBOR, one Belt one Road is at the centre of breaking the BRICS momentum.

  4. Sipho I am so encouraged by the wisdom and research of guys like you in this platform especially your mention of the Bolivarian revolution.

  5. Opposition in Venezuela is behaving the same as the one here at home you can see that they have the same master…just love the resolve shown by Maduro and the masses towards the Bolivarian revolution..by joining the New Development Bank they will ensure their independency..

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