Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: An Israeli drone attacked the main road in the town of Harouf, South Lebanon.
Lebanese President: Israeli aggression on Blida took place in aftermath of meeting of ceasefire monitoring committee.
Lebanese President Joseph Aoun asks Commander of Lebanese Army to confront any Israeli incursion into liberated Lebanese territory in the South.
Al Mayadeen's correspondent: Israeli aircraft launch series of strikes on area of Jarmaq, South Lebanon.
Reuters: Afghanistan and Pakistan agree to restart peace talks in Istanbul.
Al-Mayadeen's correspondent in southern Lebanon: Israeli occupation forces withdraw from the Blida municipality building two hours after occupying it, and the Lebanese army enters
Pakistani army: 6 soldiers and 7 militants killed in clash near the Afghan border
Israeli media: Sirens sound in the settlement of Kerem Shalom in the Gaza envelope area
Afghan source to Al Mayadeen: We still believe in dialogue and prioritize diplomatic solutions with Pakistan; though we are ready for all possibilities.
Afghan source to Al Mayadeen: Pakistan purposely obstructed negotiations in Turkey by making unrealistic demands.

Venezuela to diversify currencies for sanction relief: Deputy UN envoy

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Aug 2024 11:00
2 Min Read

President Nicolas Maduro stresses that the dominance of a single currency has compelled countries to subordinate themselves, highlighting the need for diversification.

Listen
  • x
  • Venezuela's Deputy Envoy to the UN Perez Ayestara, seen here on June 20, 2024, at the UN. (X/ UNAOC)
    Venezuela's Deputy Envoy to the UN Perez Ayestara, seen here on June 20, 2024, at the UN. (X/ UNAOC)

Venezuela believes diversifying trade currencies is essential for achieving greater freedom and mitigating the effects of sanctions, Deputy Permanent Representative to the United Nations Joaquin Perez Ayestaran told Sputnik.
 
“We do believe that the time has come to diversify the basket of currencies in which we conduct legal trade in our nations, it will liberate us and it will also serve as a way to overcome the negative impacts of unilateral coercive measures that affect many of our countries, including some that are part of BRICS,” Perez Ayestaran said. 
 
He further noted that the dominance of a single currency has compelled countries to subordinate themselves, highlighting the need for diversification.
 
“We feel that there is one particular currency that has been dominating the financial system for some time, and it has allowed for the subordination of some countries, not only in terms of the economy, but also in terms of sovereignty, and fiscal sovereignty,” Ayestaran told Sputnik. 

Maduro: Venezuela to move forward on path of abandoning dollar

He added that Venezuela believes that countries should be able to trade in their currencies and wants to have a multi-currency system.

Related News

Putin warns Europe on militarization, calls Gaza war a tragedy

Pezeshkian slams US proposal to trade uranium for sanctions relief

This comes after Maduro announced last year in May that his country will move forward on the path of abandoning the dollar in economic transactions.

Speaking to local media, Maduro said, "This is the path of Venezuela and the path of a free economy where currencies are not used to punish countries and impose sanctions."

Record inflation in the West has pushed countries around the world to find alternatives to the US dollar and its financial institutions, in an indication of the Yuan's rising international significance.

It is worth noting that Venezuelan Foreign Minister Yvan Gil announced earlier this month that President Maduro has been invited to the upcoming BRICS summit, scheduled to be held in Kazan, Russia, this October.

"[Russian] President Vladimir Putin invites President Maduro to attend the leaders' summit of the BRICS+ countries," the minister said on X and posted the letter sent by Putin to Maduro.

  • BRICS
  • Venezuela
  • Joaquin Perez Ayestaran
  • US dollar
  • Nicolas Maduro

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Hi-tech holocaust: Microsoft’s role in Gaza genocide

Microsoft's role in world’s first AI-driven genocide, in Gaza, exposed

  • Technology
  • 28 Oct 2025
What Marr evidently didn't seem to understand was that Hedges isn't saying that Western journalists manipulate the truth, but that they systematically amplify Israeli narratives they know are false. (Al Mayadeen English; Illustrated by Batoul Chamas)

Western journalists know they have a case to answer for their betrayal of Gaza, and it frightens them

  • Opinion
  • 24 Oct 2025

Coverage

All
War on Gaza

Read Next

All
An undated photo of US Air Force personnel from the 576th Flight Test Squadron Missile Handling Team installing a cable raceway on an intercontinental ballistic missile at Vandenberg Air Force Base, California (Staff Sgt Jonathan Snyder/US Air Force)
Politics

Trump nuclear test threat risks escalating tensions with China: NYT

Displaced Palestinians walk along the coastal road near Wadi Gaza in the central Gaza Strip, moving toward northern Gaza, Friday, Octtober. 10, 2025. (AP Photo/Abdel Kareem Hana)
Politics

US advances Gaza security force plan amid fragile ceasefire

Sam Altman, co-founder and chief executive officer, OpenAI, listens to testimony during a Senate Committee on Commerce, Science, and Transportation hearing, Thursday, May 8, 2025, in Washington. (AP Photo/Kevin Wolf)
Technology

OpenAI prepares for historic IPO targeting $1 trillion valuation

'Israel' approves illegal settlement expansion in occupied al-Quds
Politics

'Israel' approves illegal settlement expansion in occupied al-Quds

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS