Venezuela's National Assembly passes law to protect navigation, trade freedom

Venezuela's National Assembly on Tuesday passed a law aimed at guaranteeing and protecting freedom of navigation and trade against piracy, blockades and other illicit international acts, following U.S. seizures of vessels carrying Venezuelan oil in the Caribbean.

The "Law to Guarantee Freedom of Navigation and Commerce Against Piracy, Blockades, and Other International Illicit Acts" was declared approved by National Assembly President Jorge Rodriguez after the vote.

The legislation was passed during an extraordinary session and under urgent procedures, following U.S. seizures of vessels carrying Venezuelan oil on the high seas, and it allows prison sentences of up to 20 years for anyone who promotes or finances what it describes as piracy or blockades.

The law seeks to safeguard Venezuela's commercial and political relations from what authorities describe as threats by the United States.

On Monday, the National Assembly approved the bill in a first reading after it was proposed by Venezuelan President Nicolas Maduro as part of efforts to defend national sovereignty.