China Criticizes US Venezuela Trade Policy

Beijing has sharply criticized a new US policy that tightens trade rules related to Venezuela, specifically excluding countries including China, Russia, North Korea, Iran, and Cuba. The criticism came during a press briefing in the Chinese capital on Wednesday.

US Licenses Deemed Restrictive

China’s Foreign Ministry spokesperson, Mao Ning, described the “general licences” issued by Washington as a restriction on legitimate economic cooperation. She urged the United States to lift unilateral sanctions against Venezuela, stating that the license exemptions undermine the interests of other nations.

Safeguarding Economic Interests

Mao Ning stated, “China firmly opposes setting restrictions on China-Venezuela cooperation by issuing so-called general licences,” emphasizing the importance of safeguarding the interests of the world’s second-largest economy. The spokesperson called for a complete removal of sanctions rather than the use of exemptions.

Details of the US Waiver

The US Treasury announced a waiver on Tuesday regarding US sanctions related to Venezuela. This new transaction excludes the processing or refining of Venezuelan-origin minerals, including gold, and specifically excludes Russia, Iran, North Korea, Cuba, and China from participation.

Call for Complete Sanctions Relief

Instead of utilizing the general licenses, Mao argued that the US should “lift illicit, unilateral sanctions on Venezuela at once, rather than use so-called general licences to whitewash its moves” to hamper “lawful interests of other parties.”

Background: Maduro’s Detention

This move follows a US operation in January where Venezuelan President Nicolas Maduro and his wife, Cilia Flores, were detained in New York. They face charges related to drug trafficking and weapons-related offenses, allegations both have denied.