Alex Saab, an associate of Venezuelan President Nicolas Maduro, has been appointed as the new industry minister in Venezuela. This announcement was made by Maduro on Friday, following Saab's release from U.S. custody last year in a prisoner exchange deal.
Saab, a Colombian businessman who previously faced money laundering charges in the U.S., replaces Pedro Tellechea, who announced his resignation due to health issues requiring immediate attention. Tellechea expressed his gratitude for the opportunity to serve but stated that his health must come first.
This change in leadership is part of a broader cabinet reshuffle by Maduro, who has been navigating a period of political instability following a contested election in which opposition parties claim he lost, despite his assertions of victory.
In a message on Telegram, Maduro highlighted Saab’s role in advancing the “development of the entire industrial system of Venezuela” through a “new economic model.” Saab was returned to Venezuela in December 2023 as part of a swap that saw the U.S. release 10 prisoners held in Venezuela, signaling a potential thaw in relations between Caracas and Washington. This agreement included commitments from Maduro’s government to conduct free elections.
Maduro’s recent electoral victory in July was certified by the country’s electoral authorities and high court. However, numerous election oversight groups, human rights organizations, and opposition figures have raised concerns about the legitimacy of the election, citing a lack of transparent data to support the government's claims. Polls leading up to the election had indicated that Maduro was likely to be defeated by a significant margin, and there has been an intensified crackdown on dissent since the election took place.
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