Venezuela bond prices fall on United States trading ban report

Treasury Secretary Steven Mnuchin speaks during the news briefing at the White House in Washington, Friday, Aug. 25, 2017.

Referring to this week's meeting between U.S. Vice President Mike Pence and Venezuelan opposition leaders in Miami, Maduro said that "a meeting like never before between U.S. Vice President Mike Pence and a group of fugitives from the Venezuelan justice system was held yesterday".

"Venezuela is not very far away, and the people are suffering and they're dying", Trump said.

The order prohibits debt and equity transactions with the Venezuelan government and its state-run oil company, though it stops short of placing an embargo on Venezuelan oil entering the United States.

The new economic sanctions are likely to worsen a crisis that has already seen the oil-dependent economy shrink by around 35 percent since 2014 - more than the USA economy did during the Great Depression.


The ex-mayor and other right-wing politicians urged Pence to push for greater sanctions on Venezuela, according to AP.

Amid fears that a ban on oil exports could aggravate food shortages and sentence Venezuela's roughly 30 million people to starvation, opposition politicians applauded the targeted sanctions.

Maduro, who is among some 30 seniors officials already barred from the US, seemed nearly resigned to that possibility.

The White House said in a statement that the sanctions allow for humanitarian assistance.

The White House statement also accused the Maduro regime of irresponsibly going into debt to prop up its failing finances. Arreaza says it's a democracy that has been misportrayed by Washington and the media.


Maduro, who is among some 30 senior officials already barred from the United States, has been warning for weeks that the Trump administration was readying a "commercial, oil and financial blockade" in the mold of the one that has punished Cuba for decades.

The sanctions heap fresh pressure on PDVSA, the financial engine of Mr Maduro's government, which is already struggling because of low global oil prices, mismanagement, allegations of corruption and brain drain.

The Trump administration on Friday slapped tough new economic sanctions on Venezuela aimed at slowing the South American dictatorship's steady slide into totalitarianism.

The White House said its sanctions were "calibrated to deny the Maduro dictatorship a critical source of financing" while allowing for some humanitarian exceptions.



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