President Donald Trump signed an executive order Monday, freezing all assets of the Venezuelan government -- effectively imposing a total economic embargo on the South American nation that's been enveloped in political and economic crisis for many months.
The sanctions are the latest economic maneuvers targeting the Maduro government since last month when the U.S. Treasury Department sanctioned 13 entities and 10 individuals, including three of Maduro's stepsons, for running an corrupt network of shell companies to siphon money from the nation's emergency food subsidy program.
The United States government has been pressuring Maduro to step down since January when opposition leader Juan Guaido declared himself interim president, declaring Maduro's re-election last year illegitimate. Since then, more than 50 countries, including the United States and most democratically elected governments, have recognized Guaido's claim to the country's helm.
Trump outlined to expansion in a letter to House Speaker Nancy Pelosi.
"I have determined that it is necessary to block the property of the Government of Venezuela in light of the continued usurpation of power by the illegitimate Nicolas Maduro regime," he wrote. "As well as the regime's human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaido of Venezuela and the democratically-elected Venezuelan National Assembly."
The new sanctions block all property and assets of the Venezuelan government in the United States from being involved in any transactions.
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"All property and interests in property of the government of Venezuela that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in," the order states.
The only exceptions allowed under the order include official federal government business and humanitarian aid.
The order amounts to a total economic embargo for Venezuela. The only other countries under such heavy U.S. sanctions are North Korea, Iran, Syria and Cuba.
The U.S. Treasury had also applied sanctions against Venezuela's state-owned oil company, Petroleos de Venezuela, in January. The next month, Vice President Mike Pence announced sanctions on Venezuelan governors who back Maduro.
Trump said last week he was considering heightening pressure against Maduro. When asked by a reporter if he was considering a blockade or quarantine of Venezuela to cut it off from Russian, Chinese and Iranian assistance, Trump said, "Yes, I am."
This article has been adapted from its original source.
