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US slams Venezuala with new sanctions
President Trump signs new Travel Ban

US slams Venezuala with new sanctions

United States President, Donald Trump, signed an executive order on Friday imposing new financial sanctions on Venezuela over President Nicolas Maduro’s undemocratic actions.

The move prohibits dealings in new debt and equity issued by the Venezuelan government and the state-owned oil company.

“These measures are carefully calibrated to deny the Maduro dictatorship a critical source of financing to maintain its illegitimate rule,” the White House said.

It added that it would also “protect the U.S financial system from complicity in Venezuela’s corruption.’’

The move came as Maduro has clamped down on political opposition and consolidated power in his government’s hands.

Venezuela’s economy has been in a free fall and its citizens have suffered from food shortages and a sharp rise in violent crime.

Trump had on August 11 issued a surprise threat to Maduro, warning that the U.S might intervene in the chaos enveloping the South American country.

“I’m not going to rule out a military option,” Trump said.

“We have troops all over the world. Venezuela is not very far away.’’

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