Diosdado Cabellohe, vice president of the ruling United Socialist Party of Venezuela slammed United States President Donald Trump for signing a decree prohibiting Americans from using Venezuela's newly introduced cryptocurrency, Petro.
"Today, the emperor 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 Xinhua quoted Cabello as saying.
Cabello expressed his "profound indignation and rejection at the decision of the North American imperialism, which is intended to submit Venezuela to more blockades, and our people to more sanctions and to more aggressions".
Donald Trump's administration on Monday announced that it was broadening sanctions against Venezuela by blacklisting four government officials, and banning the country's new cryptocurrency, which President Nicolas Maduro created last month to circumvent financial sanctions on his economically strapped nation.
The White House 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 United States remained focused on the economic devastation in Venezuela, holding the president and his associates directly responsible for creating the conditions there, The New York Times reported.
United States Vice President Mike Pence is scheduled to deliver a speech this week at the Organization of American States in Washington, where he plans to call out "the Maduro regime's lawless actions," according to a spokeswoman.
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 political and judicial machinery.
The United States is among the countries that have declared they will not recognise the results.
Venezuela is the first country to issue its own digital currency, and the government appears to view the Petro 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.)