The Trump administration has frozen all Venezuelan government assets in a significant escalation of 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 was announced Monday night and takes effect immediately.
While the order falls short of an outright trade embargo, it represents the most determined US action to remove Maduro since the Trump administration recognised opposition leader Juan Guaidó as Venezuela’s rightful leader in January.
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.
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