Venezuela Bonds Fall After US Announces Sanctions

Jerome Frank
August 2, 2017

"The results thus suggest that the government maintains an important loyal core of supporters that it can mobilize in both electoral and non-electoral scenarios", the report concluded.

Footage has emerged of Venezuelan security officials seizing two opposition leaders from their homes in overnight raids, after they urged protests against a new legislative superbody widely denounced as anti-democratic.

Ledezema was put on house arrest in 2015 after being imprisoned on charges of plotting a coup against Maduro.

According to Treasury Secretary Steven Mnuchin, the White House considers the elections held in Venezuela to be illegitimate and holds Maduro responsible. What was it like on the streets during the day today? He said he would use the assembly's powers to bar opposition candidates from running in gubernatorial elections in December unless they sit with his party to negotiate an end to hostilities that have generated four months of protests that have killed at least 120 and wounded almost 2,000. The new assembly is supposed to take over in the next two days.

Tintori also said in a tweet that "they've just taken Leopoldo from the house". But "the prison and the persecution of our leaders does not stop not rebellion".

Surveys by polling firm Datanalisis showed more than 70 percent of Venezuelans opposed the new assembly.

Following an election Sunday spearheaded by President Nicolás Maduro that will give his administration broad powers to redraft the constitution, The Wall Street Journal reported that USA government officials were considering stepping up sanctions against Venezuela that could target its oil industry by making it more hard for Venezuela to import refined products from the US, which it uses to dilute its extra heavy oil to make it suitable for export. Maduro also joins an exclusive list of other sanctioned world leaders: Robert Mugabe of Zimbabwe, Bashar al-Assad of Syria and Kim Jong-Un of North Korea.

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But it's a risk some are willing to take: deeper scarcities may propel more Venezuelans to try to push the government out. "We don't know where he is or where they're taking him".

But on July 30, President Nicolás Maduro followed through on his threat to organize a National Constituent Assembly to rewrite the Venezuelan constitution.

The opponent Julio Borges, president of the Parliament, assured that the legislature would continue to sit despite the election of the Constituent assembly.

For Trump, Venezuela is a test of how tough he wants to get on the world stage against anti-American dictators - and how much he is willing to let US companies, and consumers, take a hit to send a message. Although many neighbouring countries have said they will not recognize the results of the weekend's vote, others - including Cuba, El Salvador, Nicaragua and Bolivia - have expressed their support for Maduro.

"The majority demand democracy - and we have demonstrated that with 7.6 million people", Dixson Lynch, a paramedic, said Sunday as blasts fired nearby at a protest.

MARIANA ZUNIGA: For many people inside the opposition, this vote mean the end of democracy.

Other reports by Guamnewswatch

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