'Economic terrorism': Trump orders assets freeze; Bolton doubles-down on Maduro exit, targets Moscow

RT
Tue, 06 Aug 2019 15:02 UTC

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The US has imposed new restrictions on Venezuela, blocking its government assets and threatening anyone dealing with it with secondary sanctions. The move prompted an angry reaction from Caracas.

The sanctions target Venezuela's government assets in the US, as well as individuals, companies, and countries doing business with Caracas. The executive order signed by US President Donald Trump reads:

"All property and interests in property of the Government of Venezuela that are in the United States... are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in."

The announcement was reinforced by a barrage of threats issued by US National Security Advisor John Bolton, who said "anyone" dealing with President Nicolas Maduro and his government will face secondary sanctions. He singled out Moscow, which has been engaged in economic and military cooperation with Venezuela for a long time.

"The United States is acting assertively to cut off Maduro financially, and accelerate a peaceful democratic transition. We say again to Russia, and especially to those who control its finances: 'Do not double down on a bad bet!'"

The US will not recognize any elections held in Venezuela as long as Maduro stays in power, Bolton warned, adding that countries, companies, and individuals must choose between doing business with Caracas or Washington.

The aggressive move and rhetoric prompted an angry reaction in Caracas, which branded the US' actions acts of "economic terrorism," but said the US' decision is hardly surprising. The new sanctions only "formalize a criminal economic, financial, and commercial blockade that has already started," Venezuela's Foreign Ministry said. It also vowed to not allow the "escalation of aggressions" to affect "political dialogue processes."

Relations between the US and Venezuela have not been smooth for the past two decades, but the past few months have seen them taking a nosedive. Earlier this year, the political situation in Venezuela rapidly deteriorated after the leader of the National Assembly (which opposes Maduro's government), Juan Guaido, proclaimed himself 'interim president' of Venezuela.

Washington and its allies rushed to recognize the self-styled 'president' as legitimate, but Guaido's repeated attempts to install himself in the presidential palace have failed so far. Russia, China, and many other countries have voiced their support for the elected government and have condemned the attempts to push through the US-backed coup.

Comment: More from RT: Bolton promises economic ruin for Venezuela, trade embargo

Following a failed coup plot and several new layers of US sanctions, National Security Advisor John Bolton has vowed to ruin Venezuela's finances and cut off the 'rogue state' from its trade partners with 'maximum sanctions.'

Addressing a gathering of Latin American states in Peru on Tuesday - where leaders met to discuss Venezuela's future without representatives of the Venezuelan government or the opposition - Bolton elaborated on a new executive order issued by the president.

From Sputnik: Bolton: 'Ensure Maduro runs out of financial means to sustain himself'

Speaking in Lima, Peru in a conference on the crisis in Venezuela, Bolton said that new sanctions on Venezuelan state entities and individuals imposed on Monday were "sweeping," and sent "a direct signal to all those who enable [Nicolas Maduro's] dictatorship and undermine the democratically elected national assembly, or interim president Juan Guaido."

"Critically, the executive order also authorises sanctions on foreign persons who provide support, or goods, or services to any designated person including to the government of Venezuela," Bolton said. "This sweeping executive order authorises the US government to identify, target and impose sanctions on any person who continues to provide support to the illegitimate regime of Nicolas Maduro," he added.

Bolton also attacked countries which have voiced support for Venezuela, including Cuba, Russia, China and Iran, accusing them of supporting the "atrocities of a brutal dictator."

"In this hemisphere, it is our moral imperative to defend our neighbours against any threat, internal or external, that undermines peace, security and prosperity," Bolton added, echoing earlier remarks he made about the Monroe Doctrine being "alive and well."

Earlier, speaking to Fox and Friends on Tuesday morning, Bolton said the fresh sanctions against Venezuela announced this week go "well beyond anything we've done before."

The US and its allies feel a "renewed sense of confidence here, a renewed determination that we have to see Maduro moved out of power. I think the regime's isolation is increasing. I think the people of Venezuela need this regime to be removed and the legitimate national assembly government to take power and hold new elections," Bolton said.

On Tuesday, Venezuelan Vice Minister of International Communication William Castillo slammed Washington over the latest sanctions, calling them a sign of the Trump administration's "gangsterism" and "international banditry."