Published: Sat, August 26, 2017
Money | By Charlene Sutton

Trump signs new economic sanctions against Venezuela

Trump signs new economic sanctions against Venezuela

"I am proud of the alleged sanctions... because I do not wag my tail like a lying dog", Maduro said after the U.S. announced sanctions against him.

Maduro accused the United States of imposing a "financial blockade" on Venezuela earlier this week. "The goal here is for the restoration of democracy to be brought about to Venezuela".

Venezuela has taken desperate steps to remain current on its debt throughout the economic crisis, and the president has blamed his enemies for spreading rumors about any impending default.

Last week, Venezuela's constituent assembly gave itself the power to pass laws, seizing legislative power from the opposition-led congress.

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A senior administration officials told reporters that Maduro has made his intentions clear.

Maduro and his allies, the official said, have "demonstrated clear intent to rely on repression and corruption to maintain power".

According to McMaster, Trump has asked top national security officials not only for plans for economic sanctions, but also options in case of "further deterioration" in the country.

Maduro is already struggling to combat widespread shortages and triple-digit inflation as oil production has tumbled to its lowest level in more than two decades.

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Venezuela bonds fell on Wednesday following a report the USA government was considering a ban on trading in the country's debt, with some securities touching their lowest in 18 months. "We must have the capacity to respond with firmness and the fierceness to fight, weapons in hand, if we have to defend the sacred land of Venezuela".

For the ambassador, the Venezuelan government is doing everything to find a peaceful solution through dialogue that some sectors of the opposition try to sabotage, with the aim of destabilizing the country, with foreign aid. Venezuela and PDVSA are due to pay $3.53 billion in bond payments in October and November.

Trump signs executive order imposing new Venezuela sanctions from CNBC. Earlier this month, that body declared its powers superior to all other branches of government. Humanitarian assistance also will be allowed to continue. He called relations with the US the worst in history. It is better to hold the threat of oil industry sanctions as leverage, she said.

When Mike Pence said that the U.S. would not stand by while Nicolas Maduro turned Venezuela into a catastrophe, he and Donald Trump meant it. "After that, then what?"

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