Alfred Nazaret, the Venezuelan Presidential Vice-President for Communications, Culture and Tourism, reported that the country’s banks and state-owned industrial companies, once in dispute with Novo Banco, the Portuguese lender whose assets were temporarily frozen, had secured a favorable ruling. He estimated the recovery at about $1.5 billion and noted the amount in his personal notebook, a detail that underscores the government’s persistence in pursuing the claim. Nazaret added on Twitter that the Bolivarian government had won the case and would see its assets returned from Novo Banco.
Earlier, vice president Delcy Rodríguez indicated that Venezuela had formalized an appeal to join BRICS, signaling a strategic shift toward broader international collaboration. She emphasized the country’s willingness to contribute to BRICS in substantial ways, including offering access to what she described as the world’s largest oil reserves for the organization’s energy commission. Rodríguez argued that the global landscape is undergoing a dramatic transformation, with the United States no longer able to issue unconditional directives to other nations.
In the domestic financial sphere, the Central Bank of Venezuela announced a notable policy move as the key policy rate rose to 8.5 percent, a development watched closely by markets and policymakers alike. The move was framed by officials as part of broader efforts to stabilize the economy amid global financial fluctuations and regional pressures. Analysts noted that the rate hike could influence investment decisions, exchange rates, and inflation expectations, prompting a period of adjustment for businesses and consumers across the country.
Venezuela’s leadership has consistently framed these developments within a narrative of sovereignty and strategic autonomy. Given discussions about multilateral alignments and resource commitments, observers are paying close attention to how the government will balance domestic growth with international partnerships. The pursuit of BRICS membership, combined with a robust approach to financial policy and asset recovery, reflects a broader strategy to diversify ties beyond traditional allies and to position the country within a multipolar world that seeks to reduce dependence on any single economic bloc. The public discourse suggests a deliberate aim to leverage natural resources, including oil reserves, to support energy security agendas that align with the expectations of BRICS member states and fellow emerging economies. (Attribution: Office of the Vice President and the Central Bank communications office, with statements summarized from official channels.)