Escalating US economic crackdown on Venezuela prompts passionate reactions

by Abel Hampton August 29, 2017, 0:42
Escalating US economic crackdown on Venezuela prompts passionate reactions

Maduro spoke of the consequences of "four months of violence, of human damage, with more than 100 dead, more than 2000 injured", in which Venezuela has suffered "material damage. hospitals, schools, libraries, urban living centres were attacked". However, the marches and the crisis escalated as the Election Day for the constituent assembly came closer. The White House has explained it as an attempt "to mitigate harm to the American and Venezuelan people". With Venezuela's streets calmer than they have been for months, and the opposition reeling from its failure to prevent the constitutional assembly from going forward, action from an increasingly concerned worldwide community represents the best chance of reining in Maduro, he added.

Earlier this month, China said it believed voting in Venezuela's Constituent Assembly election was "generally held smoothly", brushing off condemnation from the United States, the European Union and other USA allied countries.

The new sanctions aim to block Venezuela from raising new loans on USA financial markets. The new decree prohibits transactions with the government of the country and its state oil company. Those represent the biggest sanctions imposed by the White House on the Latin-American state. The executive order also allows debt financing for exports of food, medicine and other humanitarian goods. About two-thirds of the holders of Venezuelan bonds are in the United States, according to Maduro.

Ejercicio militar para defendernos de los militares de Estados Unidos.

While Trump's administration is aiming to pressure Maduro, the new sanctions do not prohibit investors from buying the bonds that Goldman Sachs Asset Management purchased earlier this year. Venezuela's president said they will find new markets for the oil. The sanctions also ban business dealings with Venezuela's state oil company, PDVSA.

Maduro accused the foreign-backed elements of trying to roll back the gains achieved by the people of Venezuela as part of the Bolivarian Revolution, especially those that benefit the most marginalised. US Ambassador to the United Nations, Nikki Haley, defended the move: "It's a strong message for the people of Venezuela, and it's a strong message to Maduro".

State TV images showed Venezuelans young and old entering military reserve registration centers. However, there was scarce attendance and all of the participants were ardent supporters of Maduro's Socialist Party.

Democrats in Venezuela continue to face repression and censorship.

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