We will work with Turkey: Venezuela

Venezuela’s Foreign Minister Jorge Arreaza Montserrat said that they will work with Turkey, Russia and China to find new mechanisms.

Venezuela’s Foreign Minister Jorge Arreaza Montserrat attended a news conference during the Human Rights Council at the United Nations in Geneva, Switzerland on Tuesday.

Montserrat said that US sanctions against the ailing oil nation are making foreign debt renegotiation more difficult and causing “panic” at global banks.

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According to Arreaza, global banks have opted to close accounts belonging to the government, business people and embassies.He added that some US companies were unable to pay for Venezuelan oil.

“It’s incredible how global banks have reacted with panic. If a bank somewhere in the world works with Venezuela, they feel they are going to be sanctioned.” Montserrat said. “If the international financial system blocks Venezuela, we are working with Turkey, Russia and China to find new mechanisms.”