Trump Administration Imposes New Economic Sanctions on Venezuela

Tarek William Saab speaks during a news conference in Caracas Venezuela

The Wall Street Journal reported late Tuesday that the United States was considering temporarily prohibiting USA -regulated banks from trading in Venezuelan debt as part of its effort to crack down on President Nicolas Maduro for his role in creating a pro-government superbody with wide-ranging powers.

Last month the Trump administration promised to take strong economic actions if President Nicolas Maduro's increasingly authoritarian government went ahead with plans to create a constitutional assembly comprised of government loyalists.

WASHINGTON | The White House has imposed on Friday new sanctions against Venezuela, among which the ban on the purchase of new bonds issued by the Venezuelan government or the national oil company PDVSA.

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"We will not stand by as Venezuela crumbles", the White House said.

President Maduro's "officials are now resorting to opaque financing schemes and liquidating the country's assets at fire sale prices", one official said. Foreign oil service suppliers still operating in Venezuela may also decide that the financial and reputational risk of doing business with the Maduro government has grown too high.


The order also permits the Treasury Department to help finance humanitarian aid for Venezuela citizens. "And no military actions are anticipated in the near future". The president told reporters last month that US military action in Venezuela is a possible option.

"We will continue to act", Pence assured the Venezuelan exiles, and spoke of continuing to exert economic and diplomatic pressure.

"The United States reiterated their appeal to the Venezuela to restore democracy, hold free and fair elections, to release immediately and without conditions all political prisoners and end the repression of the venezuelan people", adds the executive american.

Earlier this week Vice President Mike Pence vowed the United States would not allow "the collapse of Venezuela", saying such an event would "endanger" countries in the wider region.

He found an opportunity to argue his case that he's being unfairly targeted after Trump said earlier this month that he wouldn't rule out a "military option" to resolve Venezuela's crisis - comments that were roundly rejected throughout Latin America, even by some of Maduro's toughest critics.

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