US imposes sanctions on Venezuelan state oil firm

The United States has imposed sanctions on Venezuelan state-owned oil firm PDVSA, White House national security adviser John Bolton said on Monday.

“We have continued to expose the corruption of (Venezuelan President Nicolas) Maduro and his cronies and today’s action ensures they can no longer loot the assets of the Venezuelan people,” Bolton told reporters at a briefing on Monday.

Last Wednesday, following mass demonstrations throughout the country, Gauido, president of the Venezuelan National Assembly, announced Maduro as “illegitimate” and declared himself the so-called “interim president.”

Soon after, U.S. President Donald Trump put out a statement recognizing Guaido as the president of the country.

Argentina, Canada, Chile, Colombia, Costa Rica, Ecuador, Guatemala, Panama and Paraguay have followed suit while Bolivia and Mexico have continued to recognize Maduro.

Turkey, Russia and China have also all opposed the U.S. call to support Guaido, and condemned any international interference in the affairs of Venezuela. Iran has also put its weight behind incumbent president Maduro.