US President Donald Trump said that Washington could take new restrictive measures in connection with the crisis in Venezuela. Speaking at a news conference following his visit to India, Donald Trump said that further sanctions against Venezuela could be possible.
"You will be see something on that in the not too distant future ...There could be very serious sanctions," Trump said at a press conference in New Delhi, when asked whether he would allow Indian companies to purchase Venezuelan oil from third parties and whether new sanctions would be imposed on Venezuela.
"You are gonna see in a little while. You're asking a question right in the middle of us doing something," Trump added, when asked to share more details.
According to Trump, Washington is unhappy with what is happening in Venezuela. According to him, the South American republic used to be the "richest state" of the region, but now citizens of Venezuela suffer from food shortages.
On February 18, the US administration imposed sanctions on Rosneft Trading S. A. and its President Didier Casimiro in connection with the sale of oil from Venezuela. Blacklisting means freezing assets in the United States and prohibiting US citizens or companies from doing business with sanctioned companies or individuals. Washington gave 90 days to complete transactions with Rosneft Trading.
Venezuela has the world's largest proven oil reserves. This could be the country's key to prosperity if it were not for the populist policies of President Nicolas Maduro and his predecessor, Hugo Chavez, who undermined market institutions. The authorities of Venezuela blame external forces, including "American imperialism," for all the calamities that have been tormenting the country for years.
The Bolivarian Republic has been experiencing a serious socio-economic crisis during the recent years. The crisis caused the national currency to collapse. The country suffers from hyperinflation and a shortage of goods. In the spring of 2019, the collapse of the national health system was reported. Due to the lack of drugs and vaccines, many dangerous diseases such as measles, diphtheria, tuberculosis, malaria are spreading rapidly. Child mortality in Venezuela increases too.
The political situation in Venezuela escalated after opposition leader Juan Guaidó, whose appointment to the post of parliament speaker two days earlier was canceled by the Supreme Court of Venezuela, declared himself acting president of the country on January 23, 2019. The United States recognized him as the interim head of state. The countries of the Lima Group (with the exception of Mexico), the Organization of American States and several European countries joined the USA in the recognition of Guaido.
Venezuelan President Nicolas Maduro called the events in Veenzuela an attempted coup. Russia, Belarus, Bolivia, Iran, China, Cuba, Nicaragua, El Salvador, Syria and Turkey spoke in Maduro's support.