The new order would prevent the selling off of the Venezuelan accounts receivable related to oil, according to the US official.
"The President of the United States signed the executive order particularly in light of the recent activities of the Maduro regime, including endemic economic mismanagement and public corruption at the expense of the Venezuelan people and their prosperity, and ongoing repression of the political opposition; attempts to undermine democratic order by holding snap elections that are neither free nor fair; and the regime's responsibility for the deepening humanitarian and public health crisis in Venezuela," the White House representative said in a statement.
The senior administration official also said in the near future, the United States will work with the Lima Group in order to freeze proceeds from Venezuela.
The official said all potential tools the United States could use against Maduro in order to resolve the current situation in Venezuela remain on the table and are being reviewed.
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The United States has banned US citizens from all transactions related to the government debt of Venezuela, a presidential executive order issued by the Treasury Department said.
"All transactions related to, provision of financing for, and other dealings in the following by a United States person or within the United States are prohibited: (i) the purchase of any debt owed to the Government of Venezuela, including accounts receivable," the order said. "(ii) any debt owed to the Government of Venezuela that is pledged as collateral after the effective date of this order, including accounts receivable."
Washington also banned the sale, transfer, assignment, or pledge as collateral by the Government of Venezuela any equity interest in any entity in which Caracas has a 50 percent or more ownership interest, according to the order.
Venezuela held presidential elections on May 20. This year, four candidates ran for the presidency: incumbent President Nicolas Maduro, Reinaldo Quijada, who supported Maduro's predecessor Hugo Chavez but is dissatisfied with the current government, opposition leader Henri Falcon and Evangelical pastor Javier Bertucci.
READ MORE: Venezuelan Presidential Candidate Falcon Refuses to Recognize Voting Legitimacy
The National Electoral Council in Venezuela certified Maduro's re-election with 68 percent of the vote.
The election took place amid a financial crisis in Venezuela whose economy has been hit by falling oil prices. Venezuela also experienced mass protests last year, which initially were organized in response to the highest court's decision to significantly limit the parliament's legislative powers.
