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Venezuela slams Donald Trump for banning its cryptocurrency

ANI  |  Washington D.C. [United States] 

Diosdado Cabellohe, vice of the ruling United Socialist Party of slammed for signing a decree prohibiting Americans from using Venezuela's newly introduced cryptocurrency,

said that Trump was "wrong" when he announced possible further sanctions against the government of Venezuelan

"Today, the Trump has announced measures that will not be easy to execute, but imperialism is seeking to sow fear, to scare the free peoples of the world," China's state-run news agency quoted Cabello as saying.

Cabello expressed his "profound indignation and rejection at the decision of the North American imperialism, which is intended to submit to more blockades, and our people to more sanctions and to more aggressions".

on Monday announced that it was broadening sanctions against by blacklisting four government officials, and banning the country's new cryptocurrency, which created last month to circumvent financial sanctions on his economically strapped nation.

The U.S. officials warned that the currency was a "scam" by to further undermine democracy in the Organization of the Petroleum Exporting Countries (OPEC) country.

The said that the new measures were intended to send a message to Maduro's government, which it has accused of corruption and repression, and that the remained focused on the economic devastation in Venezuela, holding the and his associates directly responsible for creating the conditions there, reported.

The intensification of sanctions comes as Trump prepares to attend the summit of the next month in Lima, Peru, where the crisis in will be a central issue.

Vice is scheduled to deliver a speech this week at the in Washington, where he plans to call out "the Maduro regime's lawless actions," according to a

The sanctions also come just two months before Maduro is to stand for re-election in a race he is expected to win given his control of Venezuela's

The is among the countries that have declared they will not recognise the results.

is the first country to issue its own digital currency, and the government appears to view the as its best hope for reaching the international markets at a time when most investors have turned their back on the country.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 21 2018. 04:05 IST