Caracas, Dec 28 (IANS): The economic blockade imposed by the US is preventing Venezuela from funding the COVAX initiative led by the World Health Organization (WHO), Minister of Health Carlos Alvarado said.

In a statement on Sunday, the Minister said that Venezuela offered "to place $18 million into the COVAX fund", but as a result of the blockade, the country has not "been able to free those resources to pay the fund", Xinhua news agency reported.

He added that the US sanctions have affected other vaccination programs previously conducted through the Pan American Health Organization revolving fund.

"We have not been able to pay the revolving fund, therefore, we have not been able to buy vaccines through that fund," said Alvarado.

"The vaccines we are giving our boys and girls today come through humanitarian aids."

As a result of the US sanctions, the country has had vaccination failures for at least two and a half years, the Minister added.

Venezuela has so far reported more than 112,000 coronavirus cases and 1,013 deaths.