BREAKING NEWS

Venezuela to expropriate seaport warehouses

JUNE 11, 2009 02:57

President Hugo Chavez's government is taking over another piece of the Venezuelan economy, saying it will seize control of all privately owned warehouses in seaports. Public Works Minister Diosdado Cabello said that the expropriations would take effect with the order's publication in the Official Gazette this week. Chavez put Venezuela's airports and seaports under federal control earlier this year. Cabello said Wednesday the warehouse takeover is necessary because storage at ports is a matter of "state security." He did not elaborate.

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