In a surprising move Nicolas Maduro‚ Venezuelas leader has picked Alex Saab as the new minister of industry and national production. This appointment comes roughly a year after Saab was freed from US custody as part of a prisoner exchange deal
Saab who was arrested in 2020 on a US warrant‚ faced accusations of money laundering and running a bribery scheme. However‚ Venezuelas government insisted he was a special envoy with diplomatic immunity. The US prosecutors viewed him as Maduros bagman
The prisoner swap that led to Saabs release included:
- 10 Americans
- A fugitive defense contractor (known as “Fat Leonard“)
- Saab himself
This exchange happened after Venezuela promised to hold fair presidential elections in 2024. As a result the US temporarily lifted some economic sanctions‚ but these were reinstated when hopes for democratic progress faded
Last month‚ the US imposed sanctions on 16 of Maduros allies‚ accusing them of interfering with the election process and committing human rights violations. This action followed Venezuelas controversial July presidential election
Maduro announced Saabs new role on Telegram‚ stating he would be responsible for “the development of the entire industrial system of Venezuela within the framework“ of what he termed a “new economic model“. This appointment raises questions about Venezuelas commitment to addressing international concerns and its future economic direction