President Trump issued an executive order late Monday freezing all U.S.-based assets of Venezuela's government, sharply escalating economic measures aimed at pushing President Nicolás Maduro from power. The executive order immediately applies to all property and assets of Venezuela's government and its officials, prohibits any U.S. companies or individuals from dealing with them, and threatens retaliation for any foreign company or individual that does business with them. Currently, China and Russia still conduct significant business with Venezuela.
Under the new order, Venezuela joins Cuba, Iran, North Korea, and Syria as the only countries under full U.S. embargo. In a letter to Congress, Trump said the new steps were needed "in light of the continued usurpation of power by the illegitimate Nicolás Maduro regime, as well as the regime's human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaidó," whom the U.S. and other Western nations have recognized as Venezuela's legitimate leader.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How much of a blow is ICC arrest warrant for Netanyahu?Today's Big Question Action by Hague court damages Israel's narrative that Gaza conflict is a war between 'good and evil'
-
UK gynaecological care crisis: why thousands of women are left in painThe Explainer Waiting times have tripled over the past decade thanks to lack of prioritisation or funding for women's health
-
'The Hum': the real-life noise behind The ListenersIn The Spotlight Can some of us also hear the disturbing sound that plagues characters in the hit TV show – and where is it coming from?
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
