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She says Canada needs to play a leading role in the Lima Group, which includes more than a dozen countries in the Americas, minus the United States, because the crisis in Venezuela is unfolding in Canada's global backyard.

Guaido said on Monday that the U.S. maneuver would stop Maduro from emptying the "coffers" if he is removed from office.

Storchak said Venezuela owes Russian Federation $3 billion, with repayments twice a year of around $100 million, with the next due in March.

Since being elected head of the National Assembly legislature last month, Mr Guaido has managed to rally a previously disunited opposition.

Minutes after the announcement, Guaido said he was not underestimating a threat of imprisonment but did not believe it was "anything new".

Meanwhile, EU countries as France, Germany, the Netherlands, Spain and the United Kingdom have given Maduro an ultimatum, stating that they would recognize Guaido as interim president if snap presidential election were not announced in Venezuela within eight days.

Venezuela's President Nicolas Maduro attends a meeting with members of the Venezuelan diplomatic corp after their arrival from the United States, at the Miraflores Palace in Caracas, Venezuela January 28, 2019.

Some European oil traders have temporarily stopped dealing with PDVSA while their lawyers weigh whether it's possible for non-U.S. entities to continue buying Venezuelan petroleum without breaking sanctions, according to people familiar with the matter, who asked not to be named discussing internal matters.

Olivier Giroud supports Maurizio Sarri’s criticism of Chelsea players
Portuguese midfielder Marco Matias said: Of course, everyone wants to play the big games and he (Hector) is sad for that. Zola added: "There are players who need to be rested and it could be an opportunity".

Some analysts agree with the government's view.

The Trump administration had long held off targeting Venezuela's oil sector for fear that it would hurt US refiners and raise oil prices for Americans.

"One simple word: Oil".

According to S&P Global Platts, as of November 2018, Venezuela had US$3.1 billion outstanding loan to repay to Rosneft.

Secretary of State Mike Pompeo stressed that the new sanctions do not target the people of Venezuela and will not affect humanitarian assistance, including medicine and medical devices that are "desperately needed after years of economic destruction under Maduro's rule".

The United States announced sanctions against Venezuela's state oil company Monday in a coordinated effort with the main opposition leader to cripple embattled President Nicolas Maduro's power base.

The move is expected to block $7bn in assets and result in $11bn of lost export revenue over the next year. "This will imply that the supply of dollars will decrease and the demand will be maintained", Carlos Eduardo Pina, a Venezuelan political scientist, told Al Jazeera. That's because Venezuela's oil shipments to China and Russian Federation are usually taken as repayment for billions of dollars in debts.

The US is now increasing sanctions on Venezuela, which have already had a crippling effect on its economy and population.


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