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Maduro signs Economic Emergency Decree to counter U.S. sanctions on Venezuela

The National Assembly of Venezuela approved on Thursday an economic emergency decree presented this week by the government of President Nicolás Maduro, in response to sanctions and tariffs imposed by the United States.

In March, the government of Donald Trump began suspending licenses for foreign oil companies operating with the state-owned Venezuelan oil company PDVSA and imposed secondary tariffs on crude oil and gas exports. Maduro signed the decree on Tuesday, invoking constitutional articles that allow him to declare states of exception, temporarily restrict constitutional guarantees, or declare a state of emergency in the event of disasters, public calamities, or events that seriously threaten the country’s security.

The emergency decree “is to support national production,” said Delcy Rodríguez, Vice President and Minister of Hydrocarbons, during the document’s presentation.

“The affected oil markets, the fall in oil prices, have already surpassed 30% in our measurement, and this, as we say, is just the beginning,” Rodríguez stated, clarifying that Venezuela’s oil and gas production continues.

Rodríguez also mentioned that foreign oil companies are welcome to operate in Venezuela in accordance with local laws.

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The United States has set a deadline of May 27 for oil companies operating in Venezuela, including Chevron (U.S.), Eni (Italy), and Repsol (Spain), to wind down their operations and exports.

The decree grants Maduro the authority to implement measures he deems necessary to ensure economic growth, contain inflation, offer special treatment to investors, suspend taxes, or apply exceptions to tax laws, and establish import substitution mechanisms, among other measures.

Maduro and his government have consistently rejected sanctions imposed by the United States and other countries, arguing that they are illegitimate measures constituting an “economic war” designed to cripple Venezuela.

The president and his allies have celebrated what they describe as the country’s resilience despite these measures, although they have historically attributed some economic difficulties and shortages to the sanctions.

This is not the first time Maduro has governed under an emergency decree. In 2016, he signed a similar decree, which was extended until 2021 under the argument of sanctions imposed on Venezuela by Washington.

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With the Assembly’s approval, the decree must now be sent to the Constitutional Chamber of the Supreme Court of Justice.

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International

Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide

Moderna reduces production of COVID-19 vaccine

COVID-19 vaccines prevented an estimated 2,533,000 deaths worldwide between 2020 and 2024, according to an international study led by Università Cattolica del Sacro Cuore in Italy and Stanford University in the United States, published in the journal JAMA Health Forum. Researchers calculated that one death was prevented for every 5,400 doses administered.

The analysis also found that the vaccines saved 14.8 million years of life, equivalent to one year of life gained for every 900 doses given.

The study, coordinated by Professor Stefania Boccia, revealed that 82% of the lives saved were people vaccinated before becoming infected with the virus, and 57% of deaths avoided occurred during the Omicron wave. In addition, 90% of the beneficiaries were adults over 60 years old.

“This is the most comprehensive analysis to date, based on global data and fewer assumptions about the evolution of the pandemic,” explained Boccia and researcher Angelo Maria Pezzullo.

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International

Trump administration blasts judge’s ruling reinstating TPS for Honduras, Nepal, and Nicaragua

The administration of U.S. President Donald Trump criticized a federal judge’s ruling on Friday that reinstated Temporary Protected Status (TPS) for Honduras, Nepal, and Nicaragua, stressing that the immigration program was never intended to serve as a “de facto asylum system.”

On Thursday, Judge Trina Thompson extended protections for about 7,000 Nepalese immigrants, whose TPS was set to expire on August 5. The ruling also impacts roughly 51,000 Hondurans and nearly 3,000 Nicaraguans, whose TPS protections were scheduled to end on September 8.

Immigrants covered by TPS had sued the Department of Homeland Security (DHS), alleging that the program’s termination was driven by “racial animus” and stripped them of protection from deportation.

DHS Deputy Undersecretary Tricia McLaughlin issued a statement saying the decision to end TPS was part of a mandate to “restore the integrity” of the immigration system and return the program to its original purpose.

“TPS was never conceived as a de facto asylum system; however, that is how previous administrations have used it for decades,” McLaughlin emphasized.

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She also criticized Judge Thompson, calling the ruling “another example” of judges “stirring up claims of racism to distract from the facts.”

McLaughlin added that DHS would appeal the decision and take the legal battle to higher courts.

The Trump administration has also terminated TPS protections for approximately 160,000 Ukrainians, 350,000 Venezuelans, and at least half a million Haitians, among other immigrant groups.

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International

Trump to build $200M ballroom at the White House by 2028

The U.S. government under President Donald Trump announced on Thursday that it will begin construction in September on a new 8,000-square-meter ballroom at the White House.

The announcement was made by Karoline Leavitt, the administration’s press secretary, during a briefing in which she explained that the expansion responds to the need for a larger venue to host “major events.”

“Other presidents have long wished for a space capable of accommodating large gatherings within the White House complex… President Trump has committed to solving this issue,” Leavitt told reporters.

The project is estimated to cost $200 million, fully funded through donations from Trump himself and other “patriots,” according to a government statement. Construction is scheduled to begin in September and is expected to be completed before Trump’s term ends in 2028.

The Clark Construction Group, a Virginia-based company known for projects such as the Capital One Arena and L’Enfant Plaza in Washington, D.C., has been selected to lead the project.

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The new ballroom will be built on the East Wing of the White House, expanding the iconic residence with a space designed for state dinners, official ceremonies, and large-scale events.

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