Trump imposes freeze on all Venezuelan government assets

The Trump administration has imposed a freeze on all Venezuelan government assets, sharply escalating tensions with socialist leader Nicolás Maduro. It places Washington’s trade relations with the South American country on a par with Cuba, Syria, Iran and North Korea.

The ban on Americans doing business with Venezuela’s government takes effect immediately.
“All property and interests in property of the Government

of Venezuela that are in the United States … are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the executive order says.

The order, signed by President Trump on Monday, cited Maduro’s continued “usurpation” of power and human rights abuses by those loyal to him.

The United States and most Western nations have called for Maduro to step down and have recognized Venezuelan opposition leader Juan Guaido as the country’s legitimate president.

Previous sanctions have targeted dozens of Venezuelan government insiders as well as the South American nation’s oil industry, the source of almost all of its export earnings.

As part of the executive order, Americans will be banned from engaging in transactions with anyone determined to be assisting Maduro or his government. The same Maduro supporters will also be banned from entering the US.

Exceptions will be allowed for the delivery of food, medicine and clothing. Transactions with Venezuela’s still sizeable private sector do not appear to be affected either.

China and Russia have continued to back Maduro, prompting US national security adviser, John Bolton, to warn the two countries on Monday against doubling down in their support for him.