Venezuela's Deputy Ambassador to the UN Joaquin Perez told Sputnik that Caracas is discussing with allies the establishment of a sanctions-free zone, expressing confidence that it will not take long.
Venezuelan Foreign Minister Yvan Gil first introduced the initiative in September 2023.
"We propose creating a zone free from unilateral coercive measures in which we can carry out our financial transactions and interbank payments and which will allow us to guarantee direct investment and legal trade between our countries without risks, arbitrary or punitive obstacles from Western powers," Gil said at the UN General Assembly.
According to Perez, "discussions are ongoing" on this initiative. Now, Venezuela is considering options on gaining support for the idea in order to make it a reality.
"I think it will take some time, but not too much. Because we are gradually working in this direction," the Venezuelan diplomat emphasized.
The Group of Friends in Defense of the United Nations Charter was established on July 6, 2021, in New York. It currently includes 18 member states, such as Russia, Syria, Iran, and China.