EU Extends Sanctions on Venezuela for Another Year - Statement

BRUSSELS (Sputnik) - The European Union decided on Tuesday to renew economic restrictions on Venezuela for another 12 months until November 14 next year, the EU Council said on Tuesday.

"In view of the continuing deterioration of the situation in Venezuela, the Council decided today to renew the targeted restrictive measures currently in place until 14 November 2019," the council said in a statement.

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On May 20, Venezuela held its presidential election, with four candidates in the running. According to the National Electoral Council (NEC), incumbent leader Nicolas Maduro was re-elected as Venezuelan president for his second term, having secured 68 percent of votes, with slightly over 46 percent voter turnout. A number of states, including the EU members, have slammed the vote as either unfair or illegitimate.

In 2017, EU foreign ministers adopted the new measures against Venezuela without debate at a regular meeting. The bloc's member-states stopped short of sanctioning individuals in order to prevent Venezuela from plunging into a deeper economic crisis, according to Spain's Foreign Minister Alfonso.