Published: Fri, August 11, 2017
Worldwide | By Gretchen Simon

U.S. sanctions 8 more in Venezuela

U.S. sanctions 8 more in Venezuela

But experts say individual sanctions, while providing symbolism, have had little or no impact on Maduro's policies and that broader oil-sector and financial sanctions - the toughest of possible measures - may be the only way to make the Venezuelan government feel economic pain.

Last Friday the Constituent Assembly was sworn in with the rejection of a large part of the global community.

Mr Maduro's loyalist Supreme Court has, meanwhile, stepped up the prosecution of opposition politicians including Ramon Muchacho, mayor of the wealthy Chacao district of capital city Caracas.

Last week, the United States targeted Maduro with sanctions, in a rare action against a foreign head of state.

The measures freeze any USA assets of those designated and bar Americans from doing business with them.

That body has been given the job of rewriting Venezuela's Constitution, in what the United States has said was an attempt by Maduro to solidify his hold on power.

The Constituent Assembly has already sacked the attorney general, a Maduro appointee-turned-critic who opposed its creation as unconstitutional.

J&K braces for unrest over Article 35A
Though the case has been going on since 2014, what has caused panic is the recent reply by the Centre to the court. A Bench of Chief Justice of India J.S.

Washington slapped sanctions on Maduro himself last week following similar action against 13 Venezuelan figures on July 26.

Delegates are likely to issue a statement condemning the Trump administration's new sanctions on several of its delegates.

On Thursday, Trump said he discussed Venezuela along with North Korea and Afghanistan in a security briefing with top national security aides and Vice President Mike Pence, who travels to neighboring Colombia on Sunday in a trip where discussions on how to pressure Maduro is expected to feature prominently.

Even as the USA for now holds back applying economic sanctions, the Maduro government is finding itself increasingly isolated from financial markets.

On Thursday, the opposition accused the government Thursday of persecution after the supreme court this week sentenced two of its mayors to 15 months in prison for not preventing anti-government protests.

Credit Suisse is banning the trading and use of Venezuelan bonds, as the political crisis in the South American country escalates.

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