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(Bloomberg) — The EU Parliament said it will not recognize Venezuela\u2019s presidential elections unless the government allows opposition candidate Mar\u00eda Corina Machado to participate.<\/p>\n
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The message is a forceful response to Venezuelan President Nicol\u00e1s Maduro\u2019s move to reaffirm a ban on Machado last month. The resolution from the EU parliament goes a step forward than recent statements from the US, which has reiterated its emphasis on the resolution of the electoral process, instead of a particular candidate.<\/p>\n
Venezuela notes fell across the curve as the market assessed the resolution\u2019s impact. Government bonds maturing in 2027 dropped more than a cent to around 18 cents on the dollar, according to indicative pricing data compiled by Bloomberg.<\/p>\n
Machado\u2019s participation would allow for a \u201ccompetitive and truly democratic presidential election in 2024,\u201d the EU parliament said Thursday in a non-binding resolution. If this and other conditions are not met, the EU should not consider sending an electoral observation mission to Venezuela, the statement said.<\/p>\n
The parliament also called for further EU sanctions against Venezuela\u2019s Supreme Court judges and security force members involved in \u201csystematic abuses\u201d against government critics, including politicians and journalists.<\/p>\n
\u201cWe are a free and sovereign nation, and don\u2019t care about what the insolent European Parliament says,\u201d Venezuela\u2019s National Assembly VP, Pedro Infante, said on X following the resolution.<\/p>\n
Read More: US Officials Urge Colombia to Engage With Venezuela Opposition<\/p>\n
(Updates with market impact in third paragraph. A previous version of this story corrected vote was by EU Parliament in the first paragraph.)<\/p>\n
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