Trump imposes sanctions on Venezuelan government's assets

President Trump speaks to the press this week at the White House as he departs for Bedminster N.J

The letter listed the actions of the Venezuelan government that led to the sanctions, including, "the regime's human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaido of Venezuela and the democratically-elected Venezuelan National Assembly".

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

The ban blocks American companies and individuals from doing business with Maduro's government and its top supporters.

US President Donald Trump has signed executive order to block property of Venezuelan government, the White House said. Yet it represents the most sweeping US action to remove Maduro since the Trump administration recognized opposition leader Juan Guaidó as Venezuela's rightful leader in January.

As part of the executive order, Americans will be banned from engaging in transactions with anyone determined to be assisting Mr Maduro or his government.

Venezuelan president Nicolas Maduro is showing the world that despite United States sanctions he can rule with an iron fist.

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, scattered across the Americas and other continents.

Trump's order spares Venezuela's still sizable private sector.

But China and Russian Federation have continued to back Maduro, prompting US national security adviser John Bolton to warn the two countries on Monday against doubling down in their support for him.

Moments after the executive order was announced, Mr Bolton tweeted that he was looking ahead to what he hopes will be a "productive" day in Lima, Peru.



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