August 2, 2017    1 minute read

US Imposes Sanctions on Venezuela

   August 2, 2017    1 minute read

US Imposes Sanctions on Venezuela

All assets belonging to Venezuelan president Nicolas Maduro subject to US jurisdiction will be frozen.

Editor’s Remarks: US individuals and companies will be banned from having any dealings with Maduro. While it is unclear what assets he has in the US, even if he doesn’t have a US account, the ban can still disrupt his businesses. However, the sanctions are not as severe as previously speculated. Donald Trump refrained from imposing oil sanctions on the South American country, a move that could have easily brought Venezuela to its knees. But this could just be Trump’s initial attack in a longer battle against Maduro, whom he sees as a wannabe-dictator. Maduro joins an “elite” club of current or former heads of states sanctioned by the US. He will in the select company of North Korea’s Kim Jong-un, former Yugoslavia’s Slobodan Milosevic, Syria’s Bashar al-Assad and Panama’s Manuel Noriega.

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