Washington imposes sanctions on Venezuela's Cavim for support to Iran
The measure aims to prevent Tehran from amassing weapons of mass destruction. The sanctions will be in effect for two years and will expire in February 2015. Along with Venezuela's Military Industries Company (Cavim), Washington imposed sanctions on Syrian entity Army Supply Bureau (ASB) and Sudanese entities Al-Zargaa Engineering Complex and SMT Engineering
According to the US State Department, the companies violated the Iran Non-Proliferation Act of 2000, to which were added later Syria (2005) and North Korea (2006). The instrument aims to prevent any of these countries from acquiring weapons of mass destruction (WMD).
The sanctions will be in effect for a period of two years and will expire in February 2015.
Along with Venezuela's Cavim, Washington imposed sanctions on Syrian entity Army Supply Bureau (ASB) and Sudanese entities Al-Zargaa Engineering Complex and SMT Engineering.
Other sanctioned entities are Belarusian TM Services Limited (TMS) and the Scientific Industrial Company of the Republic (Radar), Iranian Iran Electronics Industries (IEI), Marine Industries Organization (MIO), and Iranian citizen Milad Jafari.
The State Department said in a statement that they have "credible" information indicating that these companies provided equipment or technology to Iran, North Korea, or Syria that could help them amass unconventional weapons or ballistic missile systems.
The four Chinese companies listed are: the Company of Commerce and Technology (BST), the Import and Export Corporation of China Precision Machinery, the Dalian Sunny Industries and the Poly Technologies Incorporated, as well as Chinese citizen Li Fangwei known as Karl Lee.
The sanctions prohibit the US Government from having contacts with these companies and individuals. No department or agency of the US Government may procure, or enter into any contract for the procurement of any goods, services or technology from the sanctioned entities.
A group of some 60 Venezuelan economists from across the country and from different generations and backgrounds, has met regularly in the past couple of years and now has brought forth a document explaining the reasons of the current emergency and outlining specific proposals on how to address the serious economic crisis the country has plunged into over the last three years.