Venezuela's National Assembly Passes Law To Protect Navigation, Trade Freedom

CARACAS, Dec 24 (Bernama-Xinhua) -- Venezuela's National Assembly on Tuesday passed a law aimed at guaranteeing and protecting freedom of navigation and trade against piracy, blockades, and other illicit international acts, following United States (US) seizures of vessels carrying Venezuelan oil in the Caribbean, Xinhua reported.

The "Law to Guarantee Freedom of Navigation and Commerce Against Piracy, Blockades, and Other International Illicit Acts" was declared approved by National Assembly President Jorge Rodriguez after the vote.

The legislation was passed during an extraordinary session and under urgent procedures, following US seizures of vessels carrying Venezuelan oil on the high seas. It allows prison sentences of up to 20 years for anyone who promotes or finances what it describes as piracy or blockades.

The law seeks to safeguard Venezuela's commercial and political relations from what authorities describe as threats by the US.

On Monday, the National Assembly approved the bill in a first reading after it was proposed by Venezuelan President Nicolas Maduro as part of efforts to defend national sovereignty. 

-- BERNAMA-XINHUA