THE PRESIDENT'S DAILY BRIEF 30 APRIL 1974

• Document Type: FOIA
• Collection: President's Daily Brief 1969-1977
• Document Number (FOIA) /ESDN (CREST): 0006007944
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 11
• Document Creation Date: August 14, 2016
• Document Release Date: August 24, 2016
• Publication Date: April 30, 1974

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Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A012100010001-1
The President's Daily Brief
April 30, 1974
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Exempt from general
declassification uhedule of E.O. 11652
exemption category 5B( t
declassified only on approval of
the Director of Central Intelligence
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FOR THE PRESIDENT ONLY
THE PRESIDENT'S DAILY BRIEF
-April 30,, 1974
PRINCIPAL DEVELOPMENTS
\.Israel
(Page 1)
Venezuela's President Perez announced sweeping eco-
nomic measures yesterday, including the surprise
nationalization of the US-dominated iron ore indus-
try. (Page 3)
\USSR:
Soviets
I (Page 4)
(Page 5)
Notes on Iraq, North Vietnam, and Argentina appear
on Page 6.
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ISRAEL-SYRIA
Fighting continued around Mount Hermon again
yesterday, with both Israeli and Syrian aircraft
active over the battle area.
Israeli planes flew sorties during
the day, some of which were apparently directed
against Syrian efforts to complete a road to the top
of Mount Hermon. The Israelis have stated repeatedly
that they will not permit the road to be built.
Syrian aircraft also struck Israeli positions
on Mount Hermon yesterday afternoon. A dogfight en-
sued in which Damascus claims to have downed six
Israeli aircraft while admitting the loss of two
MIG-21s. The Syrians claim to have brought down an-
other Israeli plane by ground fire. Tel Aviv claims
to have destroyed four Syrian aircraft and admits no
losses.
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USSR-SYRIA
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VENEZUELA
Venezuela's President Perez has announced sweep-
ing economic measures that include the surprise na-
tionalization of the US-dominated iron ore industry.
Announcing action against the Orinoco Mining Company,
a subsidiary of US Steel Corporation, and Iron Mines
of Venezuela, a subsidiary of Bethlehem Steel, Perez
said yesterday that although concessions to mine iron
ore had been granted these companies until the year
2000, "we are taking them back now." Both companies
do the bulk of Venezuela's iron ore mining and export
two thirds of their production to the United States.
Perez did not go into details about how the com-
panies will be nationalized or what, if any, compensa-
tion will be paid. Since the President's left-of-
center Democratic Action Party controls a majority of
seats in the Congress, the nationalization is consid-
ered a virtual certainty.
The nationalistic, antiforeign-investment tone
of the speech, as well as the sweeping plans Perez an-
nounced to restructure the economy, caught many by
surprise. He has been in office less than two months,
and has a massive election mandate for moderation.
He has not been under pressure from leftist or nation-
alistic groups to move against the companies, and was
expected-to focUs;on "social justice issues."
Perez also announced measures to implement the
Andean Pact's foreign investment code, which is very'.
restrictive of foreign investments. He said a broad
range of industries dealing in domestic goods and
services will be reserved to'Venezuelans Foreign,
companies will have three years in which to sell a
minimum of 80 percent of their shares to Venezuelan
nationals. Transfer of control will be under the su-
pervision of an agency to be created for this purpose
and called the "Superintendency of Foreign Investment."
Among those companies affected by the decree are the
chain stores operated by Sears and by the ROckefeller
family.
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USSR
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USSR
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Iraq:
NOTES
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North Vietnam: Hanoi's promotion of Van Tien
Dung, number two in the military hierarchy, to the
rank of full general confirms that he is being
groomed to succeed Defense Minister Vo Nguyen Giap.
Dung--the youngest member of the Politburo--is appar-
ently an advocate of large-scale conventional war-
fare, and is closely associated with the current ef-
fort to modernize the North's armed forces. Giap,
the only other figure holding such rank, dropped
from public view late last year and may be seriously
ill.
a.E.2tLiE2: Leftist and rightist factions of
the Peronist movement may clash when they gather
to hear Peron speak from the presidential palace
on May 1. Over 1 million people are expected to
assemble in? the center of the capital for what gov-
ernment organizers are calling a huge "fiesta."
The labor day ritual, which has traditionally been
observed with great fanfare by Peron's working class
following, will occur at a time when politically
motivated violence has hit a peak.
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Top Secret
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