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Mnuchin Announces New Sanctions on Venezuela

The Trump administration is taking a hard line on the deteriorating situation in the South American country.

Treasury Secretary Steve Mnuchin announced on Friday that President Trump had put in place extra sanctions against the regime of Nicolas Maduro in Venezuela.

“Today’s action is focused on restricting the regime’s access to American debt and equity markets,” Mnuchin said. “Maduro may no longer take advantage of the American financial system to facilitate the wholesale looting of the Venezuelan economy at the expense of the Venezuelan people.”

“The Maduro regime has consistently shown hostility to the rule of law, democratic institutions, and the Venezuelan people,” he added, calling the situation “a catastrophe.”

The Treasury secretary said that the sanctions are designed to “increase pressure” on the Maduro regime and force them to change course.