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Title : U.S. Freezes All Venezuelan Government Assets. Announces Total Economic Embargo
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U.S. Freezes All Venezuelan Government Assets. Announces Total Economic Embargo

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Venezuela's President Nicolas Maduro speaks during a ceremony to commemorate the Bicentennial of the Battle in the Vargas Swamp at the National Pantheon in Caracas, Venezuela July 25, 2019. Miraflores Palace/Handout via REUTERS

Reuters: Trump freezes all Venezuelan government assets in bid to pressure Maduro

WASHINGTON (Reuters) - U.S. President Donald Trump imposed a freeze on all Venezuelan government assets in the United States on Monday, sharply escalating an economic and diplomatic pressure campaign aimed at removing socialist President Nicolas Maduro from power.

The executive order signed by Trump goes well beyond the sanctions imposed in recent months against Venezuela’s state-run oil company PDVSA [PDVSA.UL] and the country’s financial sector, as well as measures against dozens of Venezuelan officials and entities.

Trump’s action, the toughest yet against Maduro, not only bans U.S. companies from dealings with the Venezuela government but also appears to open the door to possible sanctions against foreign firms or individuals that assist it.

Russian and Chinese companies are among those still doing significant business in the South American OPEC nation.

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Update #1: Trump freezes all Venezuelan government assets in US (The Guardian/AP)
Update #2: Trump announces total economic embargo against Venezuela (CNN)

WNU Editor: This puts Venezuela on the same sanctions list as Iran, Cuba, Syria, and North Korea.

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