Online Broadband Guide
Online Broadband Guide

US Imposes First Economic Sanctions Against Venezuela

US Imposes First Economic Sanctions Against Venezuela

For the first time, the US has imposed economic sanctions on Venezuela. They prohibit USA financial institutions from engaging in any new financial deals with the Venezuelan government or state-run oil company PDVSA.

The White House said its sanctions were "calibrated to deny the Maduro dictatorship a critical source of financing" while allowing for some humanitarian exceptions.

But he warned that "sacrifices" will be required to free Venezuela from the "blackmail" of the dollar and American financial system that he said are out of step with the U.S.' diminishing role in the world economy.

The announcement Friday is likely to worsen Venezuela's economic depression, which has resulted in mass demonstrations against Maduro's government and a hardline crackdown on the country's political opposition.

"The birthright of the Venezuelan people has always been and will always be libertad", he wrote, using the Spanish word for freedom.

The order also permits the Treasury Department to help finance humanitarian aid for Venezuela citizens.

Venezuelan Foreign Minister Jorge Arreaza blasted the move, saying "today's financial sanctions are the worst aggression towards Venezuela in the last 200 years".

At U.N. headquarters, U.S. Ambassador Nikki Haley told reporters: "We have had no choice but to turn around and do the sanctions to get their attention".

In a statement, the White House stated that it couldn't "stand by as Venezuela crumbles". The sanctions bar U.S. banks for making new deals with the Venezuelan government or the country's state run oil company.

Alejandro Jesus Rebolledo, a Venezuelan judge who fled the country recently, also accused the government of crimes such as money laundering and drug trafficking. Petroleos de Venezuela SA has been preparing for Del Pino's departure for several months.

On Friday, journalists were invited to a shooting range at Caracas' main military base to watch as troops taught a handful of civilian government supporters how to fire assault weapons.

Despite vast oil reserves, the South American country of 31 million people has widespread shortages of food and basic necessities, along with triple-digit inflation.

Trump has even raised the possibility of military action in Venezuela, although the White House seems to have focused more on economic and diplomatic sanctions.

Vice President Mike Pence telegraphed Friday's action during a speech Wednesday at Our Lady of Guadalupe Catholic Church in Doral, Florida.



editors' picks

August 22, 2017
HTC Vive Cuts Price by $200
The $599 package will feature HTC Vive , Tilt Brush, Everest VR and Richie's Plank Experience with a free trial for Viveport . Llamas remarked that, additionally, big developer studio games such as Fallout 4 and DOOM are slated to arrive soon.

August 22, 2017
FSU Ranked Third In Preseason AP Poll
The matchup features the highest-ranked teams in a season opener since the AP started a preseason poll in 1950. That's the same ranking Georgia landed in the coaches' preseason poll that came out earlier this month.

August 21, 2017
Pre-order the limited Xbox One X Project Scorpio Edition now
Either way, this is great news for Xbox One fas that have been waiting to jump in on the action of the massively popular shooter. Like the regular Xbox One X , the Project Scorpio Edition will cost $599 CAD and release on November 7th in Canada.

August 21, 2017
No relations with Syria for countries backing rebels - Assad
He also said Syria welcomes Russian-brokered, regional ceasefire deals, and hopes they are extended in other places in Syria. Syria's war has left more than 330,000 people dead and has displaced millions more.

August 21, 2017
Trump makes decision on military strategy in Afghanistan
Kelly's son, a Marine lieutenant, was killed in 2010 in a roadside bomb blast while on patrol in Afghanistan's Helmand province. Defense Secretary Jim Mattis confirmed the president has decided on a strategy for the war in Afghanistan .

August 21, 2017
Former Liverpool and Tottenham star: Crystal Palace man missed a sitter!
Former Liverpool striker Christian Benteke missed Palace's best chance when he shot wide from close range. Crystal Palace manager Frank de Boer during the Premier League match at Anfield, Liverpool .

August 21, 2017
Trump's favorability rating falls in three key states he won in 2016
In the 2016 election, Trump was the first Republican president since Ronald Reagan to carry all three of these Midwest states. In Michigan, voters by a 42-to-39 percent margin say the US economy has been strengthened by Trump's decisions as president.

August 20, 2017
Moroccan Gang Arrested After Fatal Knife Rampage In Finland
Finnish police raised their readiness across the country in the wake of a stabbing incident in central Turku on Friday. Finnish television channel MTV said security had been heightened at Helsinki's global airport but didn't give details.

August 19, 2017
Estimates of North Korea's nuclear weapons hard to nail down
Joseph Dunford told reporters Thursday that he's advised the USA leadership not to dial back on the exercises with South Korea. Seoul and Washington are scheduled to hold annual joint war games called Ulchi Freedom Guardian starting next week.

August 19, 2017
Taylor Swift Sparks New Album Speculation by Erasing Her Social Media Accounts
The page said she had 2,019 posts on Friday evening but none were loading and her profile picture had been removed. We now do not have any new music, but at least we've got this very familiar date.