On Monday, Trump took the step “in light of the continued usurpation of power by Nicolas Maduro and persons affiliated with him, as well as human rights abuses,” according to the order.
The Wall Street Journal said the move was the first against a Western Hemisphere government in over 30 years and imposes restrictions on Caracas similar to those faced by North Korea, Iran, Syria, and Cuba.
When President Trump was asked last week if he was considering a “blockade or quarantine” of Venezuela, Trump responded: “Yes, I am.”
The order affects “all property and interests in property of the Government of Venezuela that are in the United States, that hereafter comes within the United States, or that are or hereafter come within the possession or control of any United States person.”
These assets “are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the order said.
The measure also bars transactions with Venezuelan authorities whose assets are blocked.
It prohibits “the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to this order,” as well as “the receipt of any contribution or provision of funds, goods, or services from any such person.”
Venezuelan opposition leader Juan Guaido, who is recognized as interim president by the US and dozens of other countries, tweeted his approval of the move, saying it “seeks to protect Venezuelans” from Maduro’s “dictatorship.”
“Those who support it, benefiting from the hunger and pain of Venezuelans, should know that it has consequences,” Guaido said.
Guaido earlier this year declared himself interim president in a bid to oust Maduro. But the socialist leader has refused to yield, and in the executive order, Trump blamed Maduro’s government for “ongoing attempts to undermine” Guaido and the opposition-controlled National Assembly, which he leads.
Guaido’s efforts have meanwhile stalled despite the international support and widespread discontent with Maduro, who has been able to cling to power with the backing of the country’s security forces.
The two sides began negotiating in Norway in May, with the most recent round of talks opening last week in Barbados.
