Venezuela Roundup: Government destabilisation, Pride Day celebration, opposition rallies

Colombia paramilitary claims of government destabilisation

Venezuelan authorities are investigating claims by Colombian paramilitaries that they were approached to destabilise the government of President Nicolás Maduro. The paramilitaries alleged that Venezuelan far-right groups had contacted them to carry out attacks and create chaos during the country’s presidential election. The investigation is focused on possible criminal activity and is being carried out under the supervision of the Public Prosecutor’s Office. This is not the first time Maduro has accused the opposition of similar plots.

US authorisation of LPG exports to Venezuela

The US authorisation of LPG exports to Venezuela has no impact, as Venezuela does not import liquefied gas and meets national demand through its own production, according to the Venezuelan Anti-Blockade Observatory. The Observatory said in a statement that the US Treasury Department's extension of "General License 40C" does not affect Venezuela's oil industry progress. The authorisation does not allow for payment-in-kind or transactions prohibited by Venezuela Sanctions Regulations. Caracas plans to monetise its gas reserves to supplement revenues from crude oil and fuel exports. In October, the US eased sanctions on Venezuela, but in April 2024, some sanctions were reinstated.

Pride Day celebration

Thousands of Venezuelans went on the streets on July 7 to celebrate Pride Day in the Latin nation’s capital Caracas with rainbow flags, flashy costumes, and motorised caravans. This event included demonstrations in support of the LGBTQ+ community, AP News reported.

Crypto remittances

Venezuelans remitted $461 million worth of crypto in 2023 despite the government crackdown. Data shows that crypto remittances reached a record 9% of all money sent to Venezuela, with $9 out of every $100 remitted in the form of tokens like Bitcoin. Over 7.7 million people have left Venezuela in the past 10 years, with more than $5.4 billion in remittances received in 2023, constituting at least 6% of the country's GDP. Peer-to-peer platforms have become popular among Venezuelans, allowing them to exchange cryptocurrencies at market rates and bypass official exchange controls.

Freedom chants at opposition rallies

The Venezuelan opposition is rallying for "Freedom!" ahead of the July 28 presidential election, seeking an end to 25 years of socialist rule under President Nicolás Maduro. The opposition's candidate, Edmundo González Urrutia, has support from a divided and disenchanted base, including those seeking economic freedom and the ability to criticize the government without fear. The ruling party, despite its control, faces a significant challenge in the upcoming election, VOA News reports.