Venezuela impose new sanctions against Panamanian companies

VENEZUELA (OBSERVATORY) –┬áThe sanctioning conflict between Venezuela and Panama on Wednesday was developed – Caracas announced new sanctions in response to the actions of the Panamanian authorities that banned the flights of Venezuelan airlines.

According to Tarek El-Aissami, vice-president of Venezuela, an order has been ordered to freeze accounts of a number of Panamanian firms suspected of having links with the government of Juan Carlos Varela.

“We do not kneel, on a reciprocal basis, we made decisions to protect our financial system from the mafia of the president of Panama,” the portal Nacional statement El-Aissami.

On Tuesday, the authorities of Panama reacted against Venezuela by banning its airlines from operating in the country. For a period of 90 days with the possibility of an extension in Panama, the activities of all Venezuelan airlines are prohibited.

This step was taken in response to Venezuela’s decision to suspend for 90 days the trade and economic relations with Panama, adopted on April 6. It affected 46 legal and 22 individuals with whom Venezuelan counterparts are prohibited from dealing, as announced, to protect the Venezuelan financial system. Among these companies, the largest airline, Sora, also fell. Countries also withdrew ambassadors.

Previously, the government of Panama included Maduro in the list of persons who may be involved in money laundering, and therefore require increased attention from the financial authorities. Given the sanctions imposed by the US and the EU, the breakdown of Venezuela’s banking relations with Panama can further complicate the difficult situation in the country.