U.S. announces Venezuelan sanctions in attempt to oust Maduro

The U.S. is stepping up its efforts to force out Venezuelan President Nicolás Maduro.

In a Monday press briefing, National Security Adviser John Bolton and Treasury Secretary Steven Mnuchin announced sanctions against Venezuela's state-owned oil company. The move comes after the White House's decision to recognize opposition leader Juan Guaidó as the country's legitimate leader.

Maduro began another term last May after what opposition leaders and the U.S. government called a fraudulent election. Guaidó declared himself the interim president as Venezuela's opposition party calls for new elections. After Guaidó received public support from the Trump administration, Maduro told American diplomats to leave the country.

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At Monday's announcement, Bolton echoed Secretary of State Mike Pompeo's call for all nations to acknowledge Guaidó as Venezuela's leader — something Russia and China have refused to do. Mnuchin then said the U.S. would sanction Venezuela's state-owned oil company Petroleos de Venezuela, costing the country $7 billion in assets and $11 billion in oil revenue, effective immediately, per ABC News. Maduro has refused to step down, and Axios reports that the White House hopes sanctions will divert power and influence to Guaidó. When asked if the U.S. would take military action if Maduro continues to remain in office, Bolton said "all options are on the table."

Maduro has indicated he'd like to talk with President Trump, ABC News says. Bolton only said Monday that Vice President Mike Pence would likely meet with Guaidó's ambassador soon.