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Venezuela WTO Request Charges US of “Discriminatory Measures” vs. Petro




Venezuela expressed its unhappiness with the sanctions that the United States has slapped on them, including those levied against transactions in the country’s national digital currency, the Petro (PTR).

This is according to a World Trade Organization (WTO) consultation request that was published just recently.

The request, which was called “United States — Measures relating to trade in goods and services,” was filed just before the year ended. The documented expressed that the delegation of the Bolivarian Republic of Venezuela requests talks with the U.S. government concerning “certain measures imposed by the United States in relation to trade in goods and services.”

To be more specific, the document hones in on five areas through which the U.S. supposedly launched “coercive trade-restrictive measures […] on the Bolivarian Republic of Venezuela.” One of the fives areas cites “[d]iscriminatory coercive trade-restrictive measures with respect to transactions in Venezuelan digital currency.”

In this section, the Venezuelan government claimed that the U.S. government placed Venezuelan financial services and financial service suppliers to the above measures, “under which suppliers receive treatment less favourable than that accorded to like services and service suppliers of WTO Member States not subject to the measures.”

The document also claimed that:

“… inasmuch as digital currencies originating in the United States are not subject to the same prohibitions as Venezuelan digital currencies, the United States is according less favourable treatment to Venezuelan financial services and service suppliers than to like domestic financial services and service suppliers, in violation of Article XVII:1 of the GATS.”

Venezuela is asking for consultations with the government of the U.S. and changes, replacement and amendment of the actions cited in the document.

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