President Donald Trump signed a new executive order on Friday, imposing new financial sanctions on President Nicolas Maduro’s government in Venezuela.
“We will not stand by as Venezuela crumbles,” White House Press Secretary Sarah Sanders said in a statement Friday. “The President’s new action prohibits dealings in new debt and equity issued by the government of Venezuela and its state oil company. It also prohibits dealings in certain existing bonds owned by the Venezuelan public sector, as well as dividend payments to the government of Venezuela.”
The new sanctions prohibit banks from fostering new deals, including those involving debt and equity, with the government and the country’s state-run oil company, PDVSA.