RT Business: US sanctions against Venezuela won't work, warns Beijing

Nicolas Maduro

Maduro accused President Donald Trump of trampling on global law and relations with Latin America by taking actions that he said would cause "great damage" to the Venezuelan oil economy as well as American investors who own the country's bonds.

US President Donald Trump has ordered sweeping new sanctions on Venezuela.

Venezuela's display of military might comes in response to US President Donald Trump's threat of military action two weeks ago and new financial sanctions announced on Friday.

China has denounced the newly-imposed United States sanctions against Venezuela, saying unilateral measures would be of no avail and could only make things more complex.

The three former heads of state criticized the financial sanctions imposed by the United States and the proposal of a military intervention to solve the Venezuelan crisis.

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However, when asked about JD (U ) warning him of action if he participated in the rally, Sharad Yadav refused to comment. Taking offense at Janata Dal-United (JD (U)) rebel Sharad Yadav attending the anti-BJP rally in Patna , party leader K.C.

Arquimedes Rivero is among the Venezuelans living in Miami-Dade County and Cuban-American lawmakers who support the USA sanctions, because they believe that they will not have an effect on the ongoing humanitarian crisis, but on the government corruption that is causing it.

This month, China said it believed voting in Venezuela's Constituent Assembly election was "generally held smoothly", brushing off widespread condemnation from the United States, Europe and others and evidence of voting irregularities. The outlet broadcast training exercises, which civilians took part in, and "anti-imperialist" rallies.

Reflecting those concerns and a strong lobby effort by the US oil industry, Friday's action stopped short of cutting off USA imports of Venezuelan oil that are crucial both to both Venezuela's economy and to Gulf refiners.

Maduro is under global pressure over his handling of an economic and political crisis.

The national Congress was originally elected in 2015 but because the Venezuelan Supreme Court is pro-Maduro, they have rejected every law passed by the opposition Congress. The event, attended by military officials from China, Belarus and Russian Federation, was a prelude to military exercises Maduro called for this weekend as a deterrent to any USA military intervention.

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However, anti-government protests have dwindled in size since the constituent assembly was established through a controversial electoral process in July.

"They would bolster his discourse that Venezuela is the target of an economic war", said Smilde.

The new sanctions aim to block Venezuela from raising new loans on USA financial markets.

The new sanctions also bolster regional efforts - expressed in the Lima Declaration of August 8 - which refused to recognize Maduro's hand-picked "Constituent Assembly" and any laws it adopts. As well, they are not allowed to made new transactions with the Venezuelan oil company, PDVSA, as the administration deems that such businesses fuel Nicolas Maduro's dictatorship.

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