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Maduro: Kellogg's Attempt to Flee Venezuela 'Unconstitutional'

Maduro: Kellogg's Attempt to Flee Venezuela 'Unconstitutional'

USA -based food company Kellogg said on Tuesday it had pulled out of Venezuela due to its brutal economic crisis, the latest business to end operations in the oil-rich nation heaving under hyperinflation and strict price controls.

Stunned workers were barred from entering Kellogg's plant in the central city of Maracay and massed outside, seeking information, local business sources said.

Oliver illustrates how the country has been led astray by its leadership, from the shortsighted government of the late Hugo Chávez to the outright corruption and catastrophic food shortages seen under Chávez's hand-picked successor Nicolás Maduro, an aspiring authoritarian who would rather obfuscate the truth, play the blame game, or outright change his government's rules to protect his power than fix Venezuela's problems. "We are four days away from elections and they think it will spook the people", he said at a campaign rally.

Venezuela's oil-backed cryptocurrency, the Petro (PTR), has been surviving thanks to a little-known Russian bank, Evrofinance Mosnarbank, which has recently emerged as the only global financial institution willing to defy the US' sanctions against the South American nation.

Maduro is blaming everyone for his mess, mostly the USA, but "accusing America of creating Venezuela's crisis is about as fair as accusing O.J. Simpson of murdering Princess Diana - I'm not saying it would be completely out of character, it just happens to not be true in this particular instance", Oliver said.

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Maduro said the factory would now be "producing with the industrial working class".

According to Euromonitor, Alimentos Kellogg dominated the breakfast cereals sector in Venezuela a year ago with a 50% retail value share. In 2016, Venezuela took over a plant belonging to Kimberly-Clark, maker of personal hygiene products. "It reminds me of the Clorox case".

The company responded to the move with a threat of legal action should their products be sold under their name.

Kellogg's factory in Maracay, with a giant figure of Tony the Tiger lording over the entrance, employs around 550 people and produces 75 percent of the breakfast cereals Venezuelans consume, according to the company's website. You can sign up to receive it directly here.