Venezuela oil minister, PDVSA head to switch roles, Maduro says

Of The Week

"President Donald Trump has signed an executive order imposing new and harsh financial sanctions on the dictatorship in Venezuela", the White House announced.

The Trump administration banned trades of Venezuelan debt, prohibiting Maduro's government and its state-run oil company, Petróleos de Venezuela SA, from selling new bonds to Americans or in US financial institutions.

"The U.S. government will not allow the Maduro regime and a few corrupt individuals to use the U.S. financial system ... as a vehicle for their efforts to abuse the Venezuelan people and their constitutional rights", a senior administration official told reporters on a call Friday.

The United States has imposed new sanctions on a number of Venezuelan officials in recent months, including Maduro, over the government's plan to rewrite the country's constitution through a National Constituent Assembly.

The measures would "deny the Maduro dictatorship a critical source of financing to maintain its illegitimate rule", the White house claimed.

More news: Meizu M6 Note announced: Specs, features and pricing

Venezuelan oil minister Nelson Martinez and state oil company president Eulogio Del Pino will switch roles as the South American country's production wanes and money dries up.

The move came as Maduro has clamped down on political opposition and consolidated power in his government's hands. Several prominent opposition mayors have also been removed or ordered arrested by the government-stacked supreme court. Addressing a crowd including Venezuelan expats, Pence said "our resolve is unwavering".

The outlook has grown even bleaker with the implementation of USA sanctions against key officials with the Maduro administration, making financing the debt-burdened company even more hard.

"It will bolster his discourse that Venezuela is the target of an economic war", said Smilde.

Departing on August 9, the first of a monthly shipment holding 60,000 tons of wheat will make its way to the Bolivarian nation, honoring an agreement made between the Russian and Venezuelan government in May.

More news: Android 8.0 Oreo is Now Available on Devices That Enrolled in Beta

The United States thus attacks one of the main channels of financing of the Government of Maduro.

Venezuela must "prepare itself not to be surprised" in the case of an attack, Maduro said.

As NPR's Laurel Wamsley reported at the time, the pressure was aimed at preventing Venezuela from going forward with a controversial election to form an all-powerful National Constituent Assembly.

Rich in oil resources but poor in cash, the country, whose debt is estimated at more than $ 100 billion, warns the spectre of a payment default.

More news: Stabber identified in central Russian city attack

Related:

  • Ankle injury could sideline Giants' Odell Beckham for opener vs. Cowboys

    Ankle injury could sideline Giants' Odell Beckham for opener vs. Cowboys

    ESPN reports, it's "not out of the question he could miss a week or two of the regular season ", according to one source . We know they can't run the ball, but they went 11-5 a year ago without running the ball so that might not matter.
    Stenson takes 54-hole lead at Wyndham C'ship

    Stenson takes 54-hole lead at Wyndham C'ship

    As soon as I hit it, 'Oh, be right , baby.' Sure enough, it landed two paces short there and rolled in just like a putt. Stenson has finished inside the top 17 in five of his last six starts, including two top-15 finishes in majors.

    Hackers are threatening to release the 'Game of Thrones' season seven finale

    Researchers in the United States have uncovered why fans of the popular television show Game of Thrones are so in love with it. There have been rumors the episodes could be supersized, but that hasn't been confirmed by HBO or the show's producers.
  • Thibaut Courtois says Chelsea must give '150%' in Premier League title defence

    Thibaut Courtois says Chelsea must give '150%' in Premier League title defence

    After Marco Alonso's late victor , his second goal of the game, Conte raved: "Wembley is a fantastic stadium". Even if you see Marcos (Alonso ) in the end, he was very exhausted , but still he made that run to score.
    Curtis Granderson Hits First Dodger Home Run

    Curtis Granderson Hits First Dodger Home Run

    By Saturday afternoon, he joined his new team in Detroit in time for the Dodgers game against the Detroit Tigers . To make room on the 40-man roster, the Dodgers designated right-hander Dylan Floro for assignment.
    New Zealand big winners in Rugby Championship opener despite Australia fightback

    New Zealand big winners in Rugby Championship opener despite Australia fightback

    And the hits just kept coming for the Wallabies with Ben Smith getting in on the try scoring action as nothing was going right for the home side.
  • Police respond to Buckingham Palace area due to alleged assault

    Police respond to Buckingham Palace area due to alleged assault

    The man, who had a knife, was stopped on Friday evening shortly after 8.30pm by officers on the Mall outside Buckingham Palace. Reports on social media claimed he was armed with a sword or machete when he attacked the cops in front of terrified tourists.
    McHenry County reports first West Nile virus case of year

    McHenry County reports first West Nile virus case of year

    When possible, residents should also limit time outdoors from dusk to dawn when mosquitoes are most active. County officials said birds and humans both receive the virus the same way, through mosquito bites.
    49ers Reuben Foster has new shoulder injury

    49ers Reuben Foster has new shoulder injury

    With the year we came off last year, not having made the playoffs, we had some strides to make. He is a long time sports enthusiast, very passionate about NBA, NFL, WWE and Soccer.
  • Apple Commits $1.3B for Iowa Data Center

    Apple Commits $1.3B for Iowa Data Center

    Professor ofEconomics at Drake, Tom Rootsays it makes sense Apple wants to build its newest data center here. Like Apple's other USA data centers, the Iowa one will produce 100 percent renewable energy, he said.
    Frank Serpico stands in support of Colin Kaepernick

    Frank Serpico stands in support of Colin Kaepernick

    Themes that do appeal to the museum, however, include hip-hop, the Black Panthers, Black Lives Matter, and now, Colin Kaepernick . Raymond is part of a group of officers that has said the NYPD needs to stop using quotas for arrests in minority communities.
    Far-right rally to be met with counter-protest on Boston Common

    Far-right rally to be met with counter-protest on Boston Common

    Events are planned around the country, in cities including Atlanta, Dallas and New Orleans. Ajewde said, referring to the small free speech rally.

Comments

Latest news

Apple removes all Iranian apps from its App Store
One of DelionFoods' founders, Mahdi Taghizadeh, expressed frustration over the decision in an interview with The Times . Iranians took to Twitter to voice their frustrations at Apple, using the hashtag #StopRemovingIranianApps.

Ganesh Chaturthi: This is how the Television industry celebrated the festival
Over the past decades, idols were being made with plaster of paris, which was easier to come by than clay. Arjun Kapoor urged his fans and followers to spend some quality time with family on Ganesh Chaturthi .

Russian ambassador to Sudan latest in string of Kremlin diplomat deaths
Embassy staff said he showed signs of a heart attack, and that they called an ambulance but doctors were unable to save him. The ambassador to Turkey, Andrei Karlov, was shot by an assailant in Ankara in December 2016.

TODAY'S FORECAST: Partly sunny, high near 67
Tuesday will remain warm and a little muggy, with a high temperature of 86 degrees. Wednesday , August 23 will be sunny and windy with a high of 89.

Mexico Travel Warning Updated; Cancun, Los Cabos Included
There have been deadly gun battles in downtown Cancun, and in January, five people were killed at a nightclub in nearby Playa del Carmen.

Severe storms possible late Tuesday night
Those headed to Little League World Series games in Williamsport can expect thunderstorms and delays, AccuWeather reports. The main threat with these storms is damaging wind gusts more than 50 miles per hour .

North Korea envoy: United States pressure feeds our nuclear program
Pyongyang tested two intercontinental ballistic missiles last month that appeared to bring much of the USA within range. Trump responded by tweeting that the US military was "locked and loaded, should North Korea act unwisely".

Gionee X1 is An MT6737-Powered Mid-Ranger For India
Promotional offers that come with the phone include 10 GB additional data per month for Airtel subscribers for 6 recharges. Paytm will be offering two cashback vouchers to give Rs 250 cashback on a minimum purchase of Rs 350 on Paytm Mall.

Panneerselvam inducted in Tamil Nadu government, PM Modi assures support
Following the merger, former Chief Minister O Panneerselvam swore in as the Deputy Chief Minister of Tamil Nadu at 4;30 pm. Panneerselvam had earlier served as the Chief Minister of the state after the death of ex-Chief Minister J Jayalalithaa.

Officials let Floyd Mayweather and Conor McGregor use smaller gloves
McGregor is the spectacle of the age and it's all going down on Saturday, Aug. 26 live on Showtime pay-per-view . Some of the fighters Mayweather's fought would probably beat Conor McGregor as well; Conor can't really compete.

Dortmund will sell Dembele if Barcelona meet valuation - Zorc
It is thought that Borussia Dortmund are looking to secure a fee of around €150m for Dembele . The fact that the team is now distancing itself from his behaviour is normal.

Lebanon and Syria start joint offensive to clear border of Isis militants
The area is the last part of the Lebanese-Syrian frontier under insurgent control. -Gen. The Hezbollah and Syrian army assault is taking place inside Syria.

Trump to Guam: Nuclear Tensions Will Bring you Tourism
It also advises parents to stay where they are and wait for instructions, even if they are separated from their children. Guam is taking every precaution possible following the news that North Korea plans to attack the island.

APC speaks on President Buhari's return from London
But the spokesman to the President told 247ureports.com that the return by President Buhari has nothing to do with the protests. Osinbajo said the recuperation of the president is an indication that the country would recover.

US, South Korea War Games Start Monday; Pyongyang Warns of 'Catastrophe'
The North later said it was holding off firing towards Guam, while it waited to see what the United States would do next. They stressed that the exercises would "further drive the situation on the Korean Peninsula into a catastrophe ".

Other news