Venezuela’s Guaido Taps $152 Million of Frozen Funds in the U.S.

Venezuelan opposition leader Juan Guaido plans to make the biggest one-time withdrawal from offshore accounts frozen by U.S. sanctions to purchase Covid-19 vaccines as well as pay wages, legal fees and expenses.

Guaido approved the release of $152 million, of which about $100 million will be used to buy vaccines through the World Health Organization-backed Covax initiative or other organizations, according to a budget report approved by the National Assembly. Another $23 million will go to what was termed “defending democracy,” along with $2.3 million in advising, security and travel costs for his inner circle with no details disclosed on a payment to Guaido, if any.