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“Of the first 500 million, 300 million have entered,” Rodríguez stated during a visit to a commune base in Caracas, in an event broadcast by the state channel Venezolana de Televisión (VTV).
As indicated, these income will be allocated to “cover and finance” the income of workersas well as “protect it from inflation” and the “negative impact of fluctuations in the exchange market.”
The legal currency of Venezuela is the bolivar, but the US dollar – and sometimes the euro – are used as a reference to set prices for goods and services.
The official exchange rate is set by the Central Bank of Venezuela (BCV). However, there is a parallel market with a higher value, which has caused a gap between exchange rates, so products may have different prices depending on the currency used for purchase.
As explained last week, the president in charge reiterated that these income from the sale of crude oil will be “used and used” through the exchange market, in the national bank and through the BCV, “to consolidate and stabilize the market,” she added.
Last Thursday, the White House spokeswomanCaroline Leavitthighlighted an agreement closed between Washington and Caracas, valued at 500 million dollars, by which the US will market up to 50 million barrels of Venezuelan crude oil and manage the revenues before transferring them to the South American country.
Leavitt then affirmed that the Government in charge of Delcy Rodríguez has complied with “all the demands and requests” of the Donald Trump Administration.
Rodríguez assumed the Executive after the US attacks in Caracas and three other states that ended with the capture of the Venezuelan president. Nicolas Maduroand his wife, Representative Cilia Flores, who remain imprisoned in New York.
Since then, Trump stated that he requested “full access” to Venezuelan oil resources, while his Secretary of Energy, Chris Wright, He assured that the US will control the sale of Venezuelan crude oil for an “indefinite” time.