Trump signs new economic sanctions against Venezuela

President Donald Trump signed an executive order Friday enacting new sanctions against the socialist government of Venezuelan President Nicolas Maduro. Photo by Kevin Dietsch/UPI

Aug. 25 (UPI) — President Donald Trump imposed new sanctions against Venezuelan President Nicolas Maduro on Friday, the latest step aimed at pressuring the socialist “dictatorship” to restore its constitutional democracy.

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 order also permits the Treasury Department to help finance humanitarian aid for Venezuela citizens.

“The Maduro dictatorship continues to deprive the Venezuelan people of food and medicine, imprison the democratically-elected opposition, and violently suppress freedom of speech,” the White House said in a statement.

“The regime’s decision to create an illegitimate Constituent Assembly — and most recently to have that body usurp the powers of the democratically-elected National Assembly — represents a fundamental break in Venezuela’s legitimate constitutional order.

“These measures are carefully calibrated to deny the Maduro dictatorship a critical source of financing to maintain its illegitimate rule, protect the United States financial system from complicity in Venezuela’s corruption and in the impoverishment of the Venezuelan people, and allow for humanitarian assistance.”

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