13:32 GMT +322 July 2019
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    A supporter of Venezuelan opposition leader and self-proclaimed interim president Juan Guaido holds a flag while taking part in a protest against Venezuelan President Nicolas Maduro's government in Caracas, Venezuela January 30, 2019.

    Venezuela’s Money in Guaido’s Hands: The Great Loser Will Be the People

    © REUTERS / Manaure Quintero
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    The transfer of Venezuela’s foreign-held assets by the US and UK to the opposition has been a subject of great controversy, both inside and outside the Latin American country.

    Earlier, Washington announced the freezing of Venezuela's US-registered government accounts and their transfer to the hands of the country's opposition. Britain did the same with Venezuelan gold reserves, but do these decisions really help the Venezuelan people?

    READ MORE: Colombia to Create Centre to Provide Humanitarian Aid to Venezuela

    So far, Juan Guaido, the self-proclaimed interim president, hasn't revealed his plans for the money that's been handed to him, although analysts believe his goal is to reinforce a "parallel" government structure.

    International analyst Arturo López-Levy explained to Sputnik how these measures represent an adjustment to the situation in the Latin American nation, where "the great loser will be the Venezuelan people."

    According to the analyst, "nobody knows what he's going to do with that money. What is clear is that it won't be used to improve the country's economic situation. As long as the opposition doesn't have control over public order, it can be said that the absence of that money will aggravate the economic situation."

    Arturo López-Levy believes that Guaido's "parallel structure" could benefit from this situation. He may use it to sustain his own affairs, paying foreign embassies, "or to lobby his position in the European Union, the US and some Latin American countries."

    However, Venezuela's economic situation could be adversely affected, worsening "the situation in the country."

    López-Levy pointed out that many governments, instead of seeking dialogue, have illegally expressed support for Guaido, showing total disregard for international law.

    "It's one thing not to recognise the government of Nicolas Maduro, but it's quite another to recognise as the parallel structure of Guaido," he said.

    The professor appreciated the proposal of Uruguay and Mexico, whose governments have offered to mediate in order to achieve a peaceful solution to the ongoing crisis.

    "I insist on the importance of the Uruguayan-Mexican proposal, which was made during the search for a negotiated solution. It will always be more difficult and it will take more time to find such a solution, but it doesn't include an ultimatum for any of the parties," López-Levy explained.

    "For their part, the United States and the United Kingdom have stepped across line with the backing of the insurgents," the expert said.

    In the midst of this chaos, the analyst pointed out the position of regional institutions, such as the Organisation of American States (OAS), saying that instead of mitigating the conflict and promoting dialogue they have taken a hard line with regard to the crisis.

    "There're completely paralysed institutions, such as UNASUR (the Union of South American Nations, La Unión de Naciones Suramericanas) or CELAC (Community of Latin American and Caribbean States, La Comunidad de Estados Latinoamericanos y Caribeños), which no one remembers," López-Levy said.

    READ MORE: Trump Advisor Calls on Venezuelan Military, Central Bank to Join Opposition

    Therefore, the position of the United States and Britain goes far beyond the non-recognition of the legality of the Maduro government, and "incites to add fuel to the fire and come over to the opposition's side".

    However, according to the professor, apparently "it's too late and no one can say for sure who is going to win in this conflict. But surely, the great loser will the Venezuelan people," López-Levy concluded.

    The views and opinions expressed by the speaker do not necessarily reflect those of Sputnik.

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    economic situation, Juan Guaido, Nicolas Maduro, Venezuela
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