Trump's Executive Order For Venezuela Targets Maduro's Financing

26 August, 2017, 01:23 | Author: Chad Mckenzie
  • Brazil Venezuela Political Crisis

President Donald Trump on Friday signed an executive order to impose new financial sanctions on the Venezuelan government, which his administration considers a "dictatorship".

Earlier on Friday, Washington announced new sanctions that bar dealings in new debt bonds issued by the Venezuelan government and state-owned oil company Petroleos de Venezuela (PDVSA). USA and Latin American leaders say Maduro's government is veering toward dictatorship.

But trades of existing bonds issued by the Venezuelan government - which are different from PDVSA bonds - will be barred, a move meant to harm and sow discontent among Maduro's inner circle. "The Venezuelan government is starving its people, imprisoning the democratically elected opposition and violently suppressing freedom of speech".

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.

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"We have troops all over the world. The birthright of the Venezuelan people has always been & will always be libertad".

"To mitigate harm to the American and Venezuelan people, the Treasury Department is issuing general licenses that allow for transactions that would otherwise be prohibited by the Executive Order", the statement reads.

The country's vice president Tareck El Aissami was sanctioned by the Trump administration in February after being accused of running a drug trafficking network of corrupt officials in Venezuela.

American "will not stand by as Venezuela crumbles", Pence added.

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"The United States of America will continue to bring the full measure of American economic and diplomatic power to bear until democracy is restored in Venezuela", Pence said in remarks on August 23 at a Catholic church in Doral, Florida.

Trump has even raised the possibility of military action in Venezuela, although the White House seems to have focused more on economic and diplomatic sanctions.

Maduro also said that a blockade preventing the arrival of food and medicine to the country could be used to exacurbate crises before a potential invasion.

The U.S. thus far has refrained from imposing broader economic sanctions on Venezuela that would affect the country's oil exports to the U.S. Until now, the U.S. has taken care to target individuals within Venezuela's evolving dictatorship.

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McMaster said Friday that Vice President Mike Pence's trip through South America was successful.

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