Briefly

VENEZUELA

US decision to ease oil sanctions confirmed

Venezuela confirmed on Tuesday a decision by the United States to ease oil sanctions, calling for a total lifting of US sanctions on the South American country. "The Bolivarian Government of Venezuela has verified and confirmed the news ... that the United States of America has authorized US and European oil companies to negotiate and restart operations in Venezuela," Venezuelan Vice-President Delcy Rodriguez tweeted. In 2019, then US president Donald Trump broke off relations with Venezuela, refusing to recognize Nicolas Maduro as the Venezuelan president, and announced a series of sanctions on the country's oil, finance and trade sectors.

UNITED KINGDOM

Inflation skyrockets to 40-year peak

Britain's inflation rate has surged to a 40-year high on soaring energy costs, official data showed on Wednesday, sparking calls for an emergency government budget to combat a worsening cost of living crisis. Annual inflation soared to 9 percent in April from 7 percent in March, said the Office for National Statistics, delivering another heavy blow to Britons whose wages were already failing to keep pace with surging prices. April's headline figure marked the highest inflation rate since 1982. Despite rising calls for the government to ease the pain of soaring inflation, Chancellor Rishi Sunak insisted that the state "cannot protect people completely".

Xinhua - Agencies