Venezuela, Turkey to bypass financial system – minister

Venezuela’s foreign minister has announced that his country is planning to work with other global powers to create new mechanisms to bypass the global financial system, broadcaster NTV said.

Global banks have withdrawn investment from Venezuela since the United States put an embargo on his country, Jorge Arreaza Montserrat told a press conference outside the United Nations Headquarters in Geneva.

If the embargo were not lifted, “we will work with Turkey, Russia and China to find new mechanisms,” he said.

Montserrat said that upcoming elections in his crisis-hit nation would be just and transparent and that if the main opposition chose to boycott them, that would be representative of an irresponsible attitude.

However, he added, he had full trust that President Nicolas Maduro would be re-elected.