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US Sanctions Venezuela’s President Maduro - Treasury

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The United States has introduced sanctions against Venezuelan President Nicolas Maduro, according to US Treasury’s Office of Foreign Assets Control.

A demonstrator throws a molotov cocktail during clashes with security forces at a rally against Venezuelan President Nicolas Maduro's government in Caracas, Venezuela July 10, 2017 - Sputnik International
Venezuelan Opposition Announces New Protests Against President Maduro After Vote
WASHINGTON (Sputnik) — The United States has introduced sanctions against Venezuelan President Nicolas Maduro, US Treasury’s Office of Foreign Assets Control said in an update on Monday.

"The following individual has been added to OFAC's SDN List: MADURO MOROS, Nicolas… President of the Bolivarian Republic of Venezuela," the update stated.

The Treasury imposed sanctions on Maduro for "undermining democracy" in Venezuela, according to a release.

"As a result of today’s actions, all assets of Nicolas Maduro subject to US jurisdiction are frozen, and US persons are prohibited from dealing with him," the release added.

The United States is monitoring the situation in Venezuela and will consider hitting the country with new sanctions, US Treasury Secretary Steven Mnuchin said on Monday.

"We very much believe that sanctions do work, and we will continue to monitor the situation and consider additional sanctions," Mnuchin told reporters at a White House briefing.

On Sunday, Maduro’s government held elections for delegates to a national constituent assembly that would be involved in rewriting the country’s constitution. A number of people were reported killed during protests that broke out during the vote.

The United States and other nations opposed the election, with US President Donald Trump warning that Washington would take economic actions against Venezuela if it went forward.

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