New economic embargo: Trump freezes all Venezuelan assets in US

The measure also bars transactions with Venezuelan authorities whose assets are blocked

President Trump signed an executive order Monday imposing new sanctions against Venezuela and the government of President Nicolás Maduro, in what amounts to a near-total economic embargo.

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.

Russian Federation and China continue to back Maduro, who has called Guaido a puppet of the United States and retains control of most institutions.

U.S. National Security Adviser John Bolton said on Tuesday that the new sanctions would choke off Maduro's global financing, and he warned Russian Federation not to provide Venezuela with further support.

Ongoing support for Maduro "could affect repayment of their debt after Maduro falls", Bolton told journalists in Peru on the eve of a summit there on Venezuela's political crisis.

The ban places Maduro's socialist administration alongside a short list of adversaries from Cuba, North Korea, Syria and Iran that have been targeted by such aggressive USA actions.

"In its role as the only legitimate branch of government duly elected by the Venezuelan people, the National Assembly invoked the country's constitution to declare Nicolas Maduro illegitimate, and the office of the presidency therefore vacant".

More news: Amy Klobuchar skeptical of Trump's call for new gun controls

He said Trump's move "authorizes the U.S. government to identify, target and impose sanctions on any persons who continue to provide support" for Maduro's "illegitimate regime".

The threat of sanctions from the US will likely deter many individuals and companies from doing business with the Venezuelan government going forward.

Asked by a reporter how Venezuela would respond to the executive order, Venezuelan Foreign Minister Jorge Arreaza said: "I'm going to paraphrase Donald Trump ..." Yet it's unclear whether countries with closer relations with Caracas - including China and Russian Federation - will follow suit, potentially dulling the full impact of the new measures on the Venezuelan government.

Francisco Rodriguez, Torino Capital chief economist, said Trump's order essentially formalized a "a de facto ban on transactions between USA persons and the Venezuelan government". It comes after Vice President Pence earlier this year announced minor us sanctions against Maduro loyalists.

Guaido and his allies have repeatedly argued that China and Russian Federation are more likely to collect on their loans to Venezuela with Maduro out of office.

The only exceptions allowed under the order include official federal government business and humanitarian aid. The opposed to elections while Maduro remains in power, he said.

Related News:

Most liked

Clues found in hunt for Canadian teen murder suspects
On Sunday, August 4th, the RCMP Underwater Recovery Team completed their search of the river and will not be conducting additional dives.

Tsitsipas Beats Jordan Thompson, 17-Year-Old McNally Reaches Citi Open Quarterfinals
Gauff announced herself on the WTA Tour at Wimbledon, where the 15-year-old stunned Venus Williams en route to the fourth round. But she has lost only one set this week in ending the dream of McNally, who had ousted fourth-seeded Hsieh Su-wei on Friday.

CCTV Shows Crowds Fleeing, Police Opening Fire, During Mass Shooting in Dayton
Though the Twitter account @iamthespookster does not bear Betts' name, it does include selfies that resemble known photos of him. But Biehl said it not clear if all were full. "The Connor Betts that I talked to, I always got along with well", Howard said.

Australia won't host U.S. missiles, prime minister says
Prior to the talks, Mr Esper said he meant to deploy intermediate-range missiles in locations throughout the Asia-Pacific region. On whether the deployment of intermediate-range missiles could be considered to be directed at China, U.S.

Travis Scott just ROSE the Bar for Kylie Jenner's 22nd Birthday
Kylie Jenner turns 22-years-old on Saturday (August 10th), but - thanks to her boyfriend Travis Scott - she's already celebrating. According to TMZ , the Kylie Skin creator has rented a $250 million "super-yacht" that is the size of a football field.

Author Toni Morrison dies at 88
In 2012 Morrison was given the Presidential Medal of Freedom by Barack Obama , who called her a national treasure . Morrison was born on February 18, 1931 in Loraine, Ohio. "To take our minds off pain and chickenpox", she wrote .

Injured Alli to miss start of Spurs' Premier League season
It was no surprise when the game went to penalties and Handanovic made the decisive intervention, saving the spot-kick of the young midfielder Oliver Skipp .

Victoria’s Secret just hired its first ever trans model
The new VS rep is Brazilian beauty Valentina Sampaio , who revealed that she had the new gig on Instagram . The recent news of Sampaio's gig, has seen Victoria's Secret make headlines for all the right reasons.

Arsenal captain Koscielny leaves for Bordeaux
The Gunners are pushing to bolster their defense before the transfer window closes on August 8. Even so, it's a huge blow to Arsenal.

Kang Daniel & TWICE’s Jihyo Photographed Dating
Kang rose to prominence in 2017 when he became the top-ranking contestant in South Korean talent show "Produce 101 Season 2". Seulong, who spent two with Jihyo as a JYP trainee, is a senior for both idols - particularly for Kang Daniel .

Haftar forces say they hit Libya pro-government airbase
Reached by telephone, Murzuq municipal council member Mohamed Omar said: "The air strike resulted in 43 killed and 51 wounded". The EU in a statement condemned the deaths that it said amounted to war crimes.

Explosion at Russian ammunition dump injures at least 4
Unverified videos posted on social media showed powerful explosions sending plumes of black smoke high into the sky. A source from another agency, RIA, at the defense ministry denied the information about the soldier's death.

ABC to tackle ‘Little Mermaid’ with live production
The Wrap says this live television event will be a production that will feature intricate sets and costumes. Take that idea, reverse it, and that's The Little Mermaid in a nutshell.

Tekken 7 Season Pass 3 announced and detailed
Missing for decades, he's returned to his native city as a seasoned master, out for revenge upon those who wronged him. Free updates will also bring play state display, a reworked UI, expanded practice functionality, and My Replay & Tips.

8chan goes offline as provider pulls support after Texas shooting
Just last month, Twitter said it would use human moderators to evaluate if a post "dehumanizes others on the basis of religion". What makes the site so unsafe is that potential attackers aren't just looking to share their thoughts with like-minded people.