European Parliament Members Push Portuguese Bank to Release Venezuelan Humanitarian Funds
Members of the European Parliament, along with Irish politicians, pushed for Portuguese bank Novo Banco to release a payment from the Venezuelan Economic and Social Development Bank (BANDES) to the Pan American Health Organization for medical supplies and vaccines for…
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children in Venezuela, in a letter to the Novo Bank CEO. Novo declined to process the transfer because BANDES is subject to U.S. sanctions, even though it is not subject to EU sanctions, the Intercept reported. The MEPs blasted Novo for being “over-compliant” with U.S. sanctions, even though the U.S. sanctions themselves have exceptions for humanitarian aid. No “legal or extra-legal obstacle” stands in the way of releasing BANDES's transfer from a Brazilian bank account for the purchase of the needed humanitarian health goods, the letter said.