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Feb
8
2013
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In Case You Missed It…Articles Roundup Week of 2/8/13

92073vencemos e1360359042638 In Case You Missed It...Articles Roundup Week of 2/8/13

Courtesy of: TalCual

This week: Questions emerge as a former Iranian official is caught in Germany with an undeclared check worth around $70 million in Venezuelan currency; oddly, the Venezuelan government then accuses the opposition of corruption, as doubts grow that “chavismo” will survive without President Hugo Chávez; the anniversary of Chávez’s failed coup in 1992 calls into question who is actually in control of Venezuela; and foreign minister Elías Jaua visits China seeking further loans as shortages continue to frustrate consumers. The Economist Intelligence Unit considers Caracas, Venezuela the most expensive city in the Americas by; in the two months since Chávez’s last public appearance, shortages of staple foods continue to pile up throughout Venezuela; and the state-owned oil company Pdvsa receives more money from the Central Bank, adding more bolivars into circulation and thus boosting inflation. Lastly, after slamming the idea of spending cuts during election season, Chávez’s government moves to enact spending cuts to delay a currency devaluation; the increasing political and economic uncertainties facing Venezuela continue to impact global markets; and Venezuelan officials find over 100 firearms and 8,000 rounds of ammunition inside the Uribana prison, where a deadly riot last month killed 58.

Iran Official Probed on Undeclared Check, The Wall Street Journal

Germany is investigating a former head of the Iranian Central Bank for smuggling after customs officials seized what they said was an undeclared $70 million check he was holding from a Venezuelan state-run bank.

Venezuela rivals trade blows on corruption, Financial Times

The Venezuelan government has accelerated a mud-slinging campaign to discredit the opposition, accusing it of corruption, as doubts grow that the socialist revolution can survive without President Hugo Chávez to lead it.

On Venezuela’s coup anniversary, the big question: Who’s in control?, The Dallas Morning News

Today is the anniversary of Hugo Chavez’s failed 1992 coup attempt against then-President Carlos Andres Perez. Chavez was an army lieutenant colonel at the time of the coup, and he was responsible for deaths and blood spilled in his attempt to subvert democracy and seize power by force.

Venezuela Foreign Minister Jaua in China For More Loans as Shortages Bite at Home, Latin American Herald Tribune

Venezuela Foreign Minister Elías Jaua Milano is in Beijing holding meetings with his counterpart of the People’s Republic of China, Yang Jiechi, as well as Senior Communist Party of China (CPC) leader Yu Zhengsheng, seeking further loans as shortages of goods caused by a lack of foreign currency as well as price controls continue to frustrate consumers in the oil rich Latin American nation.

Caracas, Venezuela Is Most Expensive City In The Americas, Says Economist Intelligence Unit, The Huffington Post

Caracas, Venezuela is the most expensive city in the Americas and the 9th-most expensive in the world, according to the Economist Intelligence Unit. The Venezuelan capital jumped 25 spots from last year, according to CNN.

Venezuela’s economy: Out of stock, The Economist

IT IS now two months since Venezuelans last saw or heard from their president, Hugo Chávez, who remains in intensive care in a high-security Havana hospital, battling what seems to be terminal cancer. But it is an absence of a different kind that is uppermost in many people’s minds

Pdvsa’s higher funding to central bank spurs inflation, El Universal

In a forum organized by the Venezuelan-American Chamber of Commerce (VenAmCham), Pedro Palma, an economist and a professor at the Higher Business Studies Institute (IESA), remarked that since Venezuela’s state-owned oil company Pdvsa receives more funds from the Central Bank of Venezuela (BCV), there are more bolivars in circulation, thus boosting inflation.

Chavez Enacts Cuts He Once Slammed to Delay Devaluing, Bloomberg News

Hugo Chavez coasted to re-election last year warning Venezuelans that a victory for the opposition would lead to a “giant package” of spending cuts.

Venezuela faces increasing political and economic uncertainty, FTSE Global Markets

Due to Venezuela’s President Hugo Chavez being unable to attend the inauguration for his next presidential term originally scheduled to take place on Thursday, January 10 because of his seemingly terminal cancer, Venezuela faces a period of heightened political and economic uncertainty.

Uribana Prison Arsenal: Guns, Ammo Found In Venezuela After Deadly Riot, Official Says, The Huffington Post

Venezuelan officials found 106 firearms and more than 8,000 rounds of ammunition inside a prison following a riot last month that killed 58 people, nearly all of them inmates, the country’s top prison authority said Thursday.

 
Feb
7
2013
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Mysterious Check Reignites Controversy over Iran-Venezuela Relationship

r TAHMASB MAZAHER CHECK large570 e1360253117979 Mysterious Check Reignites Controversy over Iran Venezuela Relationship

Courtesy of: Associated Press

Controversial ties between two countries hostile to the United States reemerged on Saturday when a former Iranian official was caught in Germany with a sizable check from a Venezuelan bank. The German newspaper Bild am Sonntag first reported that German officials are investigating Tahmasb Mazaheri, Iran’s former central bank chief and economy minister, for smuggling after he was caught with an undeclared check worth approximately $70 million.

Upon his arrival from Turkey on January 21, Mazaheri was stopped and searched by German customs officials at the Dusseldorf airport. A check for 300 million Venezuelan Bolivars issued by the state-run Bank of Venezuela was found in his luggage.

According to customs authorities, visitors entering any of the European Union countries must declare incoming amounts above $13,580. Failure to disclose the funds is a civil offense punishable by a fine of up to $1 million. German authorities have not yet disclosed to whom the check was directed and are expected to decide later this month whether to press charges. In the meantime, local and international concern has emerged, sparking questions about how a former Iranian official ended up with a check of such a significant amount – in Venezuelan currency.

Iran’s ambassador to Venezuela, Hojattolah Soltani, told the Venezuelan media that the check was going to pay the expenses of the Kayson Company, an Iranian construction business that builds public housing for the Venezuelan government. According to the ambassador, Kayson has a contract to build approximately 10,000 low-income housing units. However, it remains unclear why Mazaheri misled German officials; declaring he was traveling with less than $13,580. When questioned by customs authorities, he failed to provide adequate explanation of the purpose and recipient of the funds, leading to further skepticism. Soltani claimed Mazaheri did not declare it because the check was not for him and was not destined for a German bank.

Reports confirm that Mazaheri has returned to Tehran, as officials launch an inquiry into possible impropriety and determine whether to return the check. But the controversy has given rise to the possibility that Venezuelan banks are helping Iran evade the economic sanctions imposed against it as a result of its nuclear development program. According to sources, the discovery has prompted a further investigation by the international community into the ties between the Venezuelan financial system and Tehran.

Such actions mirror the ongoing U.S. investigations into some of the largest European banks for violating sanctions against Iran. The investigations resulted in billions in fines between 2010 and 2012.

Members of the Venezuelan opposition alleged that the Kayson Company is on Canada and the United Kingdom’s list of undesirable companies, largely due to its links with illegal businesses.

United by their public condemnation of the U.S., Iran and Venezuela have built a strong alliance since Iranian President Mahmoud Ahmadinejad assumed office in 2005. They have reportedly signed over 70 joint venture agreements in housing, agriculture and energy, among other areas. The deals are valued at up to $17 billion, though neither country has much to show in terms of progress.

Mazaheri was personally involved in one of those projects back in 2008, when he became president of the International Development Bank (IDB), opened in Caracas as an independent subsidiary of the Export Development Bank of Iran (EDBI). Nine months after its opening, the U.S. Treasury Department imposed economic sanctions on both entities for financing Iran’s nuclear programs.

Citing the irresponsible handling of funds money by the Venezuelan government, the country’s opposition is demanding an explanation. Venezuelan officials have yet to comment on the matter. And with Hugo Chávez’s condition unknown to any except his Cuban medical team – now two months after his cancer surgery – the world remains wanting for answers.

 
Jun
20
2012
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Chávez Furthers Military Partnerships with Iran, Russia

drones chavez 478x270 1 Chávez Furthers Military Partnerships with Iran, Russia

Courtesy of: AFP

Hugo Chávez is making major investments into Venezuela’s military capacity, and it is raising new questions about his choice of allies and the aims of his military stockpiling. Last week, he announced the production of assault rifles in a joint venture with Russia, which comes on the heels of the revelation that he is building unmanned aerial vehicles with help from Iran.

Always the showman, Chávez made the announcement of a joint venture with Russia in a three-hour television broadcast from the factory where they are being assembled, proudly displaying the new weapons. He said they are for “internal defense,” but the announcement will likely increase U.S. concerns about his government and its role in the South America.

A Spanish daily newspaper has reported that U.S. prosecutors in New York are investigating Iran’s sale of unmanned aircraft to Venezuela. The report details the convoluted payments that kept the deal hidden as well as increased collaboration between the two countries’ militaries. Officials are investigating to ensure that Iran is not using these arms deals to set up a military command in Latin America.

Though the vehicles involved are not advanced enough to pose a threat to the United States, the transaction is another chapter in the close relationship between Venezuela and Iran. Iranian president Mahmoud Ahmadinejad recently announced plans to visit Venezuela after the upcoming Rio +20 conference, and just last month Venezuela and Iran signed a joint agreement to build an off-shore oil platform. Moreover, Venezuela continues to buy oil tankers from Iran. And while most of the West has trade sanctions on the Middle-Eastern nation, Venezuela carries on sending supplies to and signing business deals with Iran.

Venezuela’s military agreement with Russia is not new either. The country’s imports from Russia are on the rise, mostly because of increased military purchases. In global matters, President Hugo Chávez has stood with Russia on many of its most controversial decisions. Recently, he announced his solidarity with Russia in support of the current Syrian government, who Venezuela has continued to supply with oil, despite the recent violence that has taken place.

Regardless of the military capacity that this deal provides, it is another clear rejection of American diplomatic goals. Chávez continues to show that his foreign policy is predicated on showing the world that he can, and will, do business with countries regardless of their ideology, human rights record, or political system. Moreover, he’s shown a special affinity for nations that the United States views warily.