Venezuela & Grenfell: A small protest outside J P Morgan subsidiary Euroclear in the City of London called on the company to return over $1 billion of Venezuelan government funds sent to buy medicines and food for Venezuela. Later I joined the large silent march from Kensington Town Hall 18 months after the terrible fire at Grenfell Tower.
Hand Back Venezuela’s stolen money
Euroclear, City of London
The USA began its sanctions against Venezuela in 2005 a few years after Hugo Chávez became president in 1999. He brought in a programme of reforms to improve access to food, housing, healthcare and education and to support socialist government across Latin America and against US influence in what that country considered as its ‘backyard’.
This programme led to economic difficulties but greatly reduced inequality in the country, with many of the middle classes badly hit. The USA imposed further sanctions after Nicolás Maduro became president, partly because of the suppression of human and civil rights, but also for its claims that the regime supported revolutionary movements elsewhere in Latin American and allegations about its role in narcotics trading. Many believe that it was the nationalisation of the oil industry was the most important reason behind the US actions.
Venezuela has the world’s largest proven oil reserves, but currently earns very little from oil exports, particularly since President Trump imposed sanctions in 2017 and 2019. In the past the US was a major customer, but now because of sanctions its main sales are to China, India and Cuba. In 2025 Trump imposed a 25% tariff on all goods imported into the US from any country that imports Venezuelan oil, either directly or indirectly.
Now it seems increasingly likely that the US will openly back a coup in Venezuela, and as the recent seizure of an oil tanker makes clear, the main reason behind this is those oil reserves.
Back in 2018, Euroclear, a J P Morgan Subsidiary, was refusing to release %1 billion of Venezuelan government money that had been sent to buy medicines and food for Venezuela. They had taken the money despite US sanctions but were refusing to release it. The US then was pushing for humanitarian intervention in Venezuela but refusing allowing the money to be used to provide food and medicines. What they wanted was a change to a regime favourable to the USA.
Hand Back Venezuela’s stolen money
Grenfell silent walk – 18 months on
Survivors and campaigners, many of whom lost family and friends at Grenfell, took part in a silent walk marking 18 months since the disaster.
They hold Kensington and Chelsea Council responsible both for the tragedy and for failing to deal effectively with its aftermath, with many survivors still not properly rehoused. They want justice and those responsible brought to trial, for the community concerns to be met and changes made to ensure safety for all.
Still in 2025, after an expensive and lengthy public inquiry, little has changed and there has still been no justice.
I commented back in 2018, that it seemed surprising that “the campaign has not been more forceful. Obviously those for those most closely affected by the terrible fire, trauma makes a more purposeful serious of actions difficult or impossible, but the wider community seem also to have been affected. It was unfortunate that some people set up a rival organisation to United for Grenfell which has gained much of the publicity but has failed to make any real gains and has perhaps served to de-radicalise despite its left-wing connections.“
I’ve written more about Grenfell in a recent post, noting the difference between the official response between here and the recent fire in Hong Kong, where there were arrests in the days following the fire – but we are still waiting for any here.
Many more pictures at Grenfell silent walk – 18 months on.
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