What are the new economic sanctions of the United States against Venezuela?

The US National Security Advisor, John Bolton, promised a strong line against Venezuela. They will attack the gold sector

What are the new economic sanctions of the United States against Venezuela?

The president of the United States, Donald Trump, signed an executive order that would prohibit all its citizens from trading gold with Venezuela. In addition, speaking in Miami, in front of an audience with high Cuban and Latin representation, the Advisor of National Security of the United States, John Bolton, assured that actions against Cuba would also be taken, prohibiting more than 24 Cuban companies and organizations to do business with the United States.

Leer en español: ¿A que responden las nuevas sanciones económicas de Estados Unidos contra Venezuela?

The sanctions will come into force on November 5, and according to anonymous sources of Bloomberg, will have a strong negative impact on the already depressed Venezuelan economy.

The decisions of the United States government are framed in the context of the legislative elections, and in general, analysts such as those of Reuters and the Wall Street Journal assure that they are taken with the intention of strengthening the support of voters of Latino descent, and Particularly Cuban in Florida. This demographic group frequently supports demonstrations of rejection of the left regimes in the continent.

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The executive order of President Trump prohibits individuals and companies from trading gold with Venezuelan counterparts, particularly after the Trump administration ensured that Venezuela exchanged gold with Turkey as a way to finance the regime. According to official figures from the government of Turkey, cited by Reuters, this year Venezuela exported 23.6 tons of gold to Turkey with a value of 900 million dollars, while last year they exported zero.

"The Maduro regime has used this sector as a bastion to finance illicit activities, to fill its coffers, and support criminal groups," Bolton said.

In the eyes of the US government, trade with Turkey offered relief to the Venezuelan government at a time when they sought to increase economic pressure to weaken the Nicolás Maduro regime.

A 'triangle of terror'

In his speech, Bolton said that within Latin America there is a 'triangle of terror' made up of Cuba, Venezuela, and Nicaragua. Although the sanctions against Cuba and Venezuela have escalated in the 2 years of Trump's presidency, Nicaragua is barely in sight.

"This triangle of terror that exists between Havana, Caracas, and Managua is the cause of immense human suffering, the impetus of much regional instability and the genesis of a sordid cradle of communism in the Western Hemisphere (...) Under President Trump, the United States will be taking direct action against these three regimes to defend the rule of law, freedom and human decency in our region, " Bolton said.

The hard line against the leftist governments in Latin America will continue to be the banner under which Trump will develop the foreign policy of his country in the region.

Bolton, the spokesman for the Trump government, was also emphatic about celebrating the triumph of Jair Bolsonaro in Brazil's presidential elections. He called the right-wing figure a 'leader with a similar mentality' to that of President Trump and said he could be a partner when facing the economic and security challenges in the region.

LatinAmerican Post | Pedro Bernal

Translated from "¿A que responden las nuevas sanciones económicas de Estados Unidos contra Venezuela?"

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