US Green Lights UN’s Venezuela Fund in Boost to Negotiations
- Humanitarian funds to be protected from seizure by creditors
- Uncertainty around NY-based fund helped stall political talks
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The US government has assured the United Nations that contributions to its humanitarian fund for Venezuela will be safe from seizure by creditors, a reversal that could allow the relief effort to begin operating as soon as this month, according to eight people with knowledge of the dealings.
The Biden administration’s decision to green light the New York-based fund, which resulted from an agreement struck last year between Venezuelan leader Nicolas Maduro and opposition representatives, could provide a spark to stalled negotiations over the South American nation’s years-long political crisis ahead of presidential elections next year.