Key Venezuela opposition leaders detained

Trevor Jackson
August 2, 2017

Venezuelan dollar bonds were slightly lower on Monday after a controversial weekend election for a legislative super-body that could open the door to fresh USA sanctions, including measures targeting the country's crucial energy sector.

"People are starving without medicine, they are trying to modify the constitution to stay in power forever", said a protestor. He said that, in his opinion, the current disastrous economic and political situation in the country was the result of the Socialist Party's measures.

The most severe measures would bar USA imports of Venezuelan crude or prevent state oil giant Petróleos de Venezuela, S.A., or PDVSA, from transacting in US dollars.

Russia, however, threw its weight behind Maduro and the election, backing the government turnout figure.

But this move to nullify the outcome of the 2015 legislative elections has dismayed many former hardcore Chavistas, including attorney general Luisa Ortega, who vowed to challenge the constituent assembly.

More than 120 people have been killed in four months of protests. The same year, he staged a hunger strike to protest the political tactics of then-Venezuelan President Hugo Chavez. What's next for the opposition and street protests?

Mnuchin wouldn't say what assets, if any, Maduro might hold. You said people woke up in shock. So we saw an escalation of violence in the country yesterday.

It seems that they are - the government is ready to put some opposition leaders in jail if needed. More than 7 million people cast ballots.

Opposition leader Leopoldo Lopez gives a message at this house in Caracas on July 26, 2017.

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The European Union condemned the "excessive and disproportionate use of force" by Venezuelan police and troops on Sunday.

Turmoil continues to grip Venezuela in the wake of its National Constituent Assembly vote.

Maduro said he had received congratulations from the governments of Cuba, Bolivia and Nicaragua, among others.

The opposition boycotted the vote, resulting in a body that represents a tiny fraction of Venezuela's population. "That became a rallying cry for the government ever since", he said.

The US sanctions against Venezuelan President Nicolas Maduro is an attempt to oust the "unpleasant" for Washington leader, who opposes granting access to Venezuelan oil resources, Vladimir Dzhabarov, the first deputy chairman of the Russian Federation Council's Foreign Affairs Committee, told Sputnik.

Venezuela has been engulfed in an economic crisis, featuring skyrocketing inflation and food shortages.

Venezuela has been riven by unrest since the country's Supreme Court, which is packed with Maduro supporters, attempted to dissolve the legislature in late March - and quickly reversed itself just days later after global backlash.

CORNISH: Much of this referendum was so that Maduro could bring in more of his own supporters into the National Assembly after the opposition had made gains there and, as we said, to make changes to the constitution.

Some investors see a default as more likely and believe it could mean Maduro's regime would be ousted, an event they see as a long-term positive for bond value and rate of recovery in a default.

Other reports by TheDailyFarc

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