Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

EU to impose sanctions on 11 Venezuelan officials

Published 06/25/2018, 05:24 AM
Updated 06/25/2018, 05:40 AM
© Reuters. Venezuela's President Nicolas Maduro arrives to a military parade to celebrate the 197th anniversary of the Battle of Carabobo, next to his wife Cilia Flores, in Campo de Carabobo

LUXEMBOURG (Reuters) - The European Union will impose economic sanctions on 11 Venezuelan officials in protest at President Nicolas Maduro's re-election, which the bloc said was not free or fair, EU diplomats said.

The travel bans and asset freezes, first reported by Reuters in May, will be in addition to seven senior Venezuela officials the bloc sanctioned in January. They do not target Maduro directly as the EU seeks to pressure those around him first.

The EU, Venezuela's third-largest trading partner after the United States and China, is seeking to isolate Caracas and to help end what it sees as an authoritarian regime that is ruining the economy, provoking food shortages.

The European Union imposed an arms embargo on Venezuela in November.

EU foreign ministers are also expected to issue a statement later on Monday again condemning the May election.

Venezuela's mainstream opposition boycotted the vote because two of its most popular leaders were barred, authorities banned several political parties, and the election board is run by Maduro loyalists.

© Reuters. Venezuela's President Nicolas Maduro arrives to a military parade to celebrate the 197th anniversary of the Battle of Carabobo, next to his wife Cilia Flores, in Campo de Carabobo

The United States imposed sanctions on four Venezuelans and three Florida-based companies in May.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.