Stop Supporting Venezuela's Maduro, U.S. Tells Russia And China

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"The United States is acting assertively to cut off Maduro financially, and accelerate a peaceful democratic transition". Yet Russia, China, Cuba, Turkey, Bolivia and Iran all boycotted the summit.

But most of the people you talk to on the streets do not have faith in the negotiations.

Similar sanctions imposed in other parts of the world show organizations and financial institutions typically choose to err on the side of caution even when US policy explicitly allows for the delivery of certain goods. "And whatever they touch becomes radioactive", Dallen added. He welcomed the decision saying that it punishes those who do business with the regime. Panamanian strongman Manuel Noriega was only toppled when U.S. President George H.W. Bush sent in troops. "This no longer affects only Americans", Dallen said.

"The U.S. has to understand once and for all that they aren't the owners of the world", Vice President Delcy Rodriguez said in a statement from Caracas, the Venezuelan capital.

"Washington has issued another executive order that aims to formalize the criminal economic, financial and trade embargo already underway, which has caused severe harm to Venezuelan society in recent years", the ministry said.

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The emphasis on state institutions sets Monday's measures apart from the much broader economic embargo imposed on Cuba in 1962, which also prohibits operations with individuals and private companies, as well as with state entities. "As well as the regime's human rights abuses, arbitrary arrest and detention of Venezuelan citizens, curtailment of free press, and ongoing attempts to undermine Interim President Juan Guaido of Venezuela and the democratically-elected Venezuelan National Assembly". Control of the US subsidiary of PDVSA passed to the interim presidency.

They want him to stand down so new elections can be held - but Maduro, with support from the country's powerful military, refuses to go. Cuba remains governed by the Communist Party despite more than a half century of USA sanctions.

That has included placing sweeping sanctions on Venezuela's state-owned oil firm PDVSA in January.

Bolton made the appeal in Lima, Peru, before an worldwide conference on Venezuela's political crisis on Tuesday. The measure follows months of stiffening sanctions.