Friday’s ruling bars Maria Corina Machado from registering to run in the presidential election.
Caracas:
Venezuelan opposition candidate Maria Corina Machado said on Monday she would not step aside in favor of a replacement, despite the country’s Supreme Court’s decision last week to uphold a ban on her from holding public office.
Friday’s ruling bars Machado, a 56-year-old industrial engineer, from registering to run in presidential elections scheduled for later this year, with the court saying she supported U.S. sanctions, engaged in corruption and suffered losses from Venezuela’s economic losses. foreign assets.
“There is no retreat. We have a task and we will get it done,” Machado told a news conference in Caracas. “Replacement candidates are the plan of those who don’t want to change, and our plan is to change, that’s all.”
She said the ruling was a “judiciary crime”, adding that there were still many hurdles to overcome but that elections would be held this year.
The United States has made continued sanctions relief conditional on Venezuelan President Nicolas Maduro releasing prisoners, including “wrongfully detained” Americans, and making progress on lifting bans on some opposition figures (signed as part of Barbados’ election in October). part of the agreement). .
Venezuela released 24 of its own citizens and 10 Americans in December in exchange for the freedom of a Maduro official and the extradition of a Malaysian businessman wanted by the United States
The U.S. State Department said on Saturday that the United States is reviewing its sanctions policy.
Machado, who won the October primary in a landslide, has never supported the idea of naming a successor. She also asked for a representative to attend talks between the opposition and Caracas.
Analysts said the United States may partially reinstate sanctions after the ruling.
“We expect a partial reinstatement of the sanctions regime,” BancTrust & Co said in a note on Monday, adding that a full reinstatement of the sanctions regime was unlikely as sanctions have proven ineffective in promoting political change.
JPMorgan economists said the easing of bond trading is likely to continue, although prospects for easing oil sanctions are more uncertain due to economic interests in both countries, mass migration of Venezuelans to the United States and wars in the Middle East and Eastern Europe.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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