More than 100 international economists demand the lifting of sanctions against Venezuela due to an earthquake emergency

Published at: 08/07/2026 09:07 AM

A group of 113 leading international economists and academics signed a manifesto to demand the immediate lifting of unilateral coercive measures against Venezuela. The central objective of the request is to mitigate the humanitarian emergency caused in the country by the double earthquake of last June 24, details Venezolana de Televisión (VTV)?

High-profile international signatories such as Isabella Weber, Jeffrey Sachs and James K. Galbraith formally urged the U.S. Department of the Treasury to lift the restrictions. The request directly covers measures affecting the Central Bank of Venezuela (BCV) and public financial institutions.

The experts' request also calls for the release of sanctions against Petrleos de Venezuela S.A. (PDVSA) and the mining, oil, banking, transportation, telecommunications and travel sectors. Academics emphasized that “the emergency is human rather than political” and that the supply of water, energy, food and medicine cannot be delayed by diplomatic procedures.

In addition, the researchers declared that the initial measures approved by the Washington administration were insufficient in the face of the contingency. These actions by the US administration consisted of 300 million dollars in assistance, the shipment of removal machinery and a restricted temporary license for humanitarian flights.

For his part, the former minister of Ecuador, Andrés Arauz, who managed the earthquake in Manabí in 2016, warned of the magnitude of material damage in the national territory. The specialist pointed out that the economic and infrastructure impact of the disaster in Venezuela is equivalent to 10 percent of its Gross Domestic Product (GDP).

Faced with this scenario, Arauz stressed the urgent need to make feasible the massive import of specialized machinery and technology for the reconstruction of affected areas. The expert insisted that this logistical process must be carried out as soon as possible and without the operational obstacles imposed by the sanctions.

Mazo News Team