Trump signs order restricting Venezuelan gov’t from liquidating state assets

WASHINGTON, May 21 (KUNA) — President Donald Trump signed an executive order on Monday that bans the US from being involved in sales of Venezuela’s assets related to oil and other goods.

The move was made “in light of the recent activities of the Maduro regime, including endemic economic mismanagement and public corruption at the expense of the Venezuelan people and their prosperity, and ongoing repression of the political opposition; attempts to undermine democratic order by holding snap elections that are neither free nor fair; and the regime’s responsibility for the deepening humanitarian and public health crisis,” said the order.

All US citizens or those in the US are prohibited from purchasing debt owed to Venezuela, the sale, transfer, assignment, or pledging as collateral by the Government of Venezuela of any equity interest in any entity in which the Government of Venezuela has a 50 percent or greater ownership interest, it said.

A senior State Department official said in a background briefing with reporters that the move was designed to “further force the regime’s efforts to mortgage away the future of the Venezuelan people” and “close avenues for corruption.” Earlier in the day, Vice President Mike Pence called Venezuela’s elections “a sham-neither fair nor free” and stressed that the “fake process is a further blow to the proud democratic traditions” of the country.

Source: Kuwait News Agency