U.S. imposes new sanctions on Venezuela

Posted August 29, 2017

National security advisor HR McMaster followed suit, saying "no military actions are anticipated in the near future".

Trump also hasn't done anything about Citgo, Venezuela's biggest asset in the U.S.

U.S. President Donald Trump signed an executive order that prohibits dealings in new debt from the Venezuelan government or its state oil company on Friday in an effort to halt financing that the White House said fuels President Nicolas Maduro's "dictatorship".

Leaders of the fractious opposition coalition boycotted the July 30 election of the assembly.

In a national address, President Maduro condemned Washington for using economic and financial measures to impose its political will over a country.

The three former heads of state criticized the financial sanctions imposed by the United States and the proposal of a military intervention to solve the Venezuelan crisis.

"The present problem in Venezuela should be resolved by the Venezuelan government and people themselves", the Chinese official said at the news briefing.

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The civilian training came a couple weeks after Trump made those comments, and only a day after the U.S. Treasury Department sanctioned Venezuela's oil industry, something its economy relies on. But more specifically, several countries that surround Venezuela are already pressuring Maduro in not recognizing the power of his new Constituent Assembly.

But Trump's rhetoric might have worked in Maduro's favor. But the radical moves could hurt US financial interests and worsen the humanitarian crisis in Venezuela. In remarks earlier this month, President Donald Trump would not rule out a "military option" for Venezuela.

They also restrict PDVSA's US subsidiary, Citgo, from sending dividends back to Venezuela - a move that Maduro said would lead to the "virtual closure" of a company responsible for thousands of American jobs. But after the United States issued sanctions against the country last week, cutting off much of the regime's finances, officials are claiming they no longer have a way to pay for food and medicine at all.

"They would bolster his discourse that Venezuela is the target of an economic war", said Smilde.

That could choke off access to NY debt markets and raise the risk of Venezuela being forced into default. They also protested against the constituent assembly because they believe that this is an attempt to change the constitution.

The government and state oil company have about $4 billion in debt payments coming due before the end of the year but only $9.7 billion in worldwide reserves on hand, the vast majority consisting of gold ingots that are hard to trade immediately for cash.