Trump Signs Executive Order Imposing Sanctions on Venezuelan Government Assets

06 Août, 2019, 13:55 | Auteur: Anatole Charbonneau
  • Trump imposes total U.S. freeze on Venezuelan government assets

The Trump administration has frozen all Venezuelan government assets in a dramatic escalation of tensions with socialist leader Nicolas Maduro, who has stubbornly clung to power in the face of mounting global pressure.

Russian and Chinese companies are among those still doing significant business in the South American OPEC nation.

Only North Korea, Iran, Syria and Cuba have similar sanctions against them by the United States.

President Donald Trump announced an executive order to slap the government of Venezuela with brutal new sanctions that are reserved for only the worst regimes.

The executive order comes the day before Mr Trump's national security adviser John Bolton and US Commerce Secretary Wilbur Ross represent the United States at the International Conference for Democracy in Venezuela.

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The U.S. has already used sanctions to target Venezuelan government officials, the central bank and its state-run oil and gas sector, from which the country derives the vast majority of its export earnings.

Venezuela has been suffering a humanitarian and political crisis that intensified in January when US-backed opposition leader Juan Guaido illegally declared himself the country's interim president after disputing Nicolas Maduro's re-election.

The same Maduro supporters will also be banned from entering the US.

The Venezuelan economy has collapsed under Maduro, with inflation reaching 130,060 per cent a year ago and shortages of food and medicines driving millions of people overseas.

China and Russian Federation - together with Cuba - have continued to back Maduro, prompting USA national security adviser John Bolton to warn Beijing and Moscow on Monday against doubling down in their support for him.

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