>> Now is the time to stand for democracy and prosperity in Venezuela.>> US National Security Advisor, John Bolton, announced sweeping sanctions against Venezuela state-owned oil company, Monday. In the most aggressive action to date against embattled President Nicholas Maduro. Officials say the sanctions are intended to prevent Maduro’s government from siphoning off funds from the company.
>> We have continued to expose the corruption of Maduro and his cronies, and today’s action ensures they can no longer loot the assets of the Venezuelan people.>> The Trump administration is ratcheting up pressure against Maduro and trying to demonstrate its support for Juan Guaido. The Venezuelan opposition leader who proclaimed himself interim President last week.
And was immediately recognized by the United States and a host of other countries
ut for now the Venezuelan military is standing by Madero. Asked if the US would consider military action, Bolton said the administration wasn't ruling anything out.>> That all options are on the table.>> The sanctions target PDVSA, which also owns US refining arm, CITGO Petroleum.
>> CITGO assets->> Treasury Secretary, Steven Mnuchin, said CITGO in the United States would continue to operate provided founds go to a blocked account.>> Even as pressure bills against Maduro, on Sunday he rejected a European ultimatum to call elections soon. Maduro has ruled over Venezuela since 2013, presiding over the nation's descent into turmoil, with food shortages, deadly street protests,
d the exodus of millions.
With tensions high, Guaido is calling for more demonstrations this week, an attempt to build on the momentum from last week's mass protests.