President Trump said the US will expand its sanctions against Venezuela to impose a total economic embargo against the country
The embargo freezes assets of the government of Venezuela and associated entities and prohibits economic transactions with it, unless specifically exempted. Exemptions include official business of the federal government and transactions related to the provision of humanitarian aid.The executive order marks an escalation from the already expansive US measures against the Venezuelan government since the start of the country's chaotic political and economic crisis earlier this year.
"Venezuela's political turmoil stems from presidential elections last year wherein Maduro secured another six-year term in a process widely viewed as a sham. Opposition leader Juan Guaido declared himself acting president earlier this year.Read MoreWhile several nations -- including China and Russia -- have supported Maduro in the wake of the election, Trump has been a vocal champion for Guaido.
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