The group will also suspend military cooperation with the Venezuelan government and said in a declaration that it will evaluate restricting loans to the Venezuelan government at organizations of which Lima Group countries are members.
"We agree on the following measures…in accordance with respective national legislations, prevent high-level Venezuelan officials from entering the territory of Lima Group members," the declaration said on Monday.
"Suspend military cooperation with the Maduro regime, including the transfer of armaments in light of articles 6 and 7 of the UN Arms Trade Treaty, and assess the granting of over-flight permits for Venezuelan military aircraft in cases of humanitarian assistance," the declaration said listing measures the group agreed on.
Tensions in Venezuela escalated nearly two weeks ago after Guaido declared himself interim president, disputing last year's re-election of Maduro. The United States and several other countries swiftly recognized the opposition leader as the country's leader. Russia, China, Mexico, Turkey and Uruguay are among the nations that have voiced their support for Maduro as the country's legitimately elected head of state.