Venezuela passes bill criminalizing oil tanker seizures
- Hge News
- 7 days ago
- 1 min read
The move comes after the US seized two tankers transporting Venezuelan oil this month. At an emergency UN meeting requested by Caracas, China and Russia accused the US of "bullying" the South American country.
Lawmakers in Venezuela on Tuesday passed a bill that criminalizes a range of activities that could hinder trade and commerce in the South American country, such as the seizure of oil tankers.
Anyone who promotes, requests, supports, finances or participates in "acts of piracy, blockades or other international illegal acts" against commercial entities operating in the South American country could face fines and a prison sentence of up to 20 years, according to the amended legislation.
The new law, which was introduced, debated and passed within two months, came after US forces seized two tankers carrying Venezuelan oil in international waters this month.
It also directs the executive branch to come up with "incentives and mechanisms for economic, commercial and other protections" for national or foreign entities doing business with Venezuela in the event of piracy activities, a maritime blockade or other unlawful acts.
While the parliament endorsed the bill, it will only go into effect after receiving approval by President Nicolas Maduro.
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