WASHINGTON/CARACAS (Reuters) - The United States on Monday sanctioned three Venezuelans and 20 companies with ties to socialist President Nicolas Maduro for narcotics trafficking activity, and U.S. Vice President Mike Pence called for more nations to increase pressure on Caracas.

The new sanctions continue a pattern of stepped-up U.S. measures on individuals connected to Maduro, who is blamed by President Donald Trump's administration for a deep recession and hyperinflation in OPEC member Venezuela that has caused food shortages and sent a flood of migrants into neighbouring countries.

The individuals sanctioned on Monday are fairly low-profile and are unlikely to create major economic hardship.

Trump has so far opted not to impose new oil-related sanctions that it has considered for a Venezuelan oil services company and on insurance coverage for tankers carrying Venezuelan oil, though the measures are still under consideration, one administration official said, speaking on condition of anonymity.

Pence told the 35-nation Organization of American States - which includes Venezuela as a member - that they needed to take greater steps to isolate Maduro.

"We believe it is time to do more, much more," Pence said in an address to the OAS. "Every free nation gathered here must take stronger action to stand with the Venezuelan people and stand up to their oppressors."

Pence said the OAS should suspend Venezuela's membership, and urged other members to cut off the nation's leaders from financial systems and restrict them from travel visas.

He also called on Maduro to suspend the May 20 elections, saying he expected voter intimidation and manipulation of data. "There will be no real election in Venezuela on May 20, and the world knows it," Pence said.

The suggestion was immediately rejected by Caracas. "There is zero possibility that elections will be suspended," said Samuel Moncada, Venezuela’s ambassador to the United Nations, condemning Pence’s speech.

Maduro, himself subject to sanctions last year, regularly laughs off Washington's disapproval and blames the U.S. "empire" for his country's economic woes, saying it is trying to undermine his administration.

Venezuela's Information Ministry did not respond to a request for comment.

Of the newly sanctioned companies, 16 are based in Venezuela and four in Panama. They are owned or controlled by the three individuals, the U.S. Treasury said in a statement.

Oil prices rose to their highest levels since late 2014 on Monday, boosted by fresh troubles for Venezuelan state oil company PDVSA [PDVSA.UL] and a looming decision on whether the United States will reimpose sanctions on Iran over its nuclear programme.

U.S. oil major ConocoPhillips has moved to take Caribbean assets of PDVSA to enforce a $2 billion arbitration award, three sources told Reuters. The move could deal a further blow to the company's declining oil output and exports.

This story has not been edited by Firstpost staff and is generated by auto-feed.</s>WASHINGTON/CARACAS (Reuters) - The United States on Monday sanctioned three Venezuelans and 20 companies with ties to socialist President Nicolas Maduro for narcotics trafficking activity, and U.S. Vice President Mike Pence called for more nations to increase pressure on Caracas.

The new sanctions continue a pattern of stepped-up U.S. measures on individuals connected to Maduro, who is blamed by President Donald Trump’s administration for a deep recession and hyperinflation in OPEC member Venezuela that has caused food shortages and sent a flood of migrants into neighboring countries.

The individuals sanctioned on Monday are fairly low-profile and are unlikely to create major economic hardship.

Trump has so far opted not to impose new oil-related sanctions that it has considered for a Venezuelan oil services company and on insurance coverage for tankers carrying Venezuelan oil, though the measures are still under consideration, one administration official said, speaking on condition of anonymity.

Pence told the 35-nation Organization of American States - which includes Venezuela as a member - that they needed to take greater steps to isolate Maduro.

“We believe it is time to do more, much more,” Pence said in an address to the OAS. “Every free nation gathered here must take stronger action to stand with the Venezuelan people and stand up to their oppressors.”

Pence said the OAS should suspend Venezuela’s membership, and urged other members to cut off the nation’s leaders from financial systems and restrict them from travel visas.

He also called on Maduro to suspend the May 20 elections, saying he expected voter intimidation and manipulation of data. “There will be no real election in Venezuela on May 20, and the world knows it,” Pence said.

The suggestion was immediately rejected by Caracas. “There is zero possibility that elections will be suspended,” said Samuel Moncada, Venezuela’s ambassador to the United Nations, condemning Pence’s speech.

Maduro, himself subject to sanctions last year, regularly laughs off Washington’s disapproval and blames the U.S. “empire” for his country’s economic woes, saying it is trying to undermine his administration.

Venezuela’s Information Ministry did not respond to a request for comment.

Of the newly sanctioned companies, 16 are based in Venezuela and four in Panama. They are owned or controlled by the three individuals, the U.S. Treasury said in a statement.

Oil prices rose to their highest levels since late 2014 on Monday, boosted by fresh troubles for Venezuelan state oil company PDVSA [PDVSA.UL] and a looming decision on whether the United States will reimpose sanctions on Iran over its nuclear program.

U.S. oil major ConocoPhillips has moved to take Caribbean assets of PDVSA to enforce a $2 billion arbitration award, three sources told Reuters. The move could deal a further blow to the company’s declining oil output and exports.</s>WASHINGTON/CARACAS (Reuters) - The United States on Monday sanctioned three Venezuelans and 20 companies with ties to socialist President Nicolas Maduro for narcotics trafficking activity, and U.S. Vice President Mike Pence called for more nations to increase pressure on Caracas.

The new sanctions continue a pattern of stepped-up U.S. measures on individuals connected to Maduro, who is blamed by President Donald Trump’s administration for a deep recession and hyperinflation in OPEC member Venezuela that has caused food shortages and sent a flood of migrants into neighboring countries.

The individuals sanctioned on Monday are fairly low-profile and are unlikely to create major economic hardship.

Trump has so far opted not to impose new oil-related sanctions that it has considered for a Venezuelan oil services company and on insurance coverage for tankers carrying Venezuelan oil, though the measures are still under consideration, one administration official said, speaking on condition of anonymity.

Pence told the 35-nation Organization of American States - which includes Venezuela as a member - that they needed to take greater steps to isolate Maduro.

“We believe it is time to do more, much more,” Pence said in an address to the OAS. “Every free nation gathered here must take stronger action to stand with the Venezuelan people and stand up to their oppressors.”

Pence said the OAS should suspend Venezuela’s membership, and urged other members to cut off the nation’s leaders from financial systems and restrict them from travel visas.

He also called on Maduro to suspend the May 20 elections, saying he expected voter intimidation and manipulation of data. “There will be no real election in Venezuela on May 20, and the world knows it,” Pence said.

The suggestion was immediately rejected by Caracas. “There is zero possibility that elections will be suspended,” said Samuel Moncada, Venezuela’s ambassador to the United Nations, condemning Pence’s speech.

Maduro, himself subject to sanctions last year, regularly laughs off Washington’s disapproval and blames the U.S. “empire” for his country’s economic woes, saying it is trying to undermine his administration.

Venezuela’s Information Ministry did not respond to a request for comment.

Of the newly sanctioned companies, 16 are based in Venezuela and four in Panama. They are owned or controlled by the three individuals, the U.S. Treasury said in a statement.

Oil prices rose to their highest levels since late 2014 on Monday, boosted by fresh troubles for Venezuelan state oil company PDVSA [PDVSA.UL] and a looming decision on whether the United States will reimpose sanctions on Iran over its nuclear program.

U.S. oil major ConocoPhillips has moved to take Caribbean assets of PDVSA to enforce a $2 billion arbitration award, three sources told Reuters. The move could deal a further blow to the company’s declining oil output and exports.</s>Washington, DC - Vice President Mike Pence met with Foreign Secretary Boris Johnson of the United Kingdom. Both agreed that the strong partnership between the two countries was exemplified by our joint leadership in responding to the poisoning of a private citizen in Salisbury using chemical weapons and the allied airstrikes following the use of chemical weapons by the Syrian regime.

The Vice President emphasized the importance of ensuring that Iran never acquires a nuclear weapon, and that North Korea commits to verifiable denuclearization. Both welcomed the President’s upcoming visit to the United Kingdom in July and agreed to continue to work together to address geopolitical challenges.</s>Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy.</s>WASHINGTON/CARACAS (Reuters) - The United States on Monday sanctioned three Venezuelans and 20 companies with ties to socialist President Nicolas Maduro for narcotics trafficking activity, and U.S. Vice President Mike Pence called for more nations to increase pressure on Caracas.

The new sanctions continue a pattern of stepped-up U.S. measures on individuals connected to Maduro, who is blamed by President Donald Trump’s administration for a deep recession and hyperinflation in OPEC member Venezuela that has caused food shortages and sent a flood of migrants into neighboring countries.

The individuals sanctioned on Monday are fairly low-profile and are unlikely to create major economic hardship.

Trump has so far opted not to impose new oil-related sanctions that it has considered for a Venezuelan oil services company and on insurance coverage for tankers carrying Venezuelan oil, though the measures are still under consideration, one administration official said, speaking on condition of anonymity.

Pence told the 35-nation Organization of American States - which includes Venezuela as a member - that they needed to take greater steps to isolate Maduro.

“We believe it is time to do more, much more,” Pence said in an address to the OAS. “Every free nation gathered here must take stronger action to stand with the Venezuelan people and stand up to their oppressors.”

Pence said the OAS should suspend Venezuela’s membership, and urged other members to cut off the nation’s leaders from financial systems and restrict them from travel visas.

He also called on Maduro to suspend the May 20 elections, saying he expected voter intimidation and manipulation of data. “There will be no real election in Venezuela on May 20, and the world knows it,” Pence said.

The suggestion was immediately rejected by Caracas. “There is zero possibility that elections will be suspended,” said Samuel Moncada, Venezuela’s ambassador to the United Nations, condemning Pence’s speech.

Maduro, himself subject to sanctions last year, regularly laughs off Washington’s disapproval and blames the U.S. “empire” for his country’s economic woes, saying it is trying to undermine his administration.

Venezuela’s Information Ministry did not respond to a request for comment.

Of the newly sanctioned companies, 16 are based in Venezuela and four in Panama. They are owned or controlled by the three individuals, the U.S. Treasury said in a statement.

Oil prices rose to their highest levels since late 2014 on Monday, boosted by fresh troubles for Venezuelan state oil company PDVSA [PDVSA.UL] and a looming decision on whether the United States will reimpose sanctions on Iran over its nuclear program.

U.S. oil major ConocoPhillips has moved to take Caribbean assets of PDVSA to enforce a $2 billion arbitration award, three sources told Reuters. The move could deal a further blow to the company’s declining oil output and exports.</s>Vice President Mike Pence plans to call Monday on Venezuela to suspend its presidential election later this month because of corruption concerns, two people familiar with the matter said.

The U.S. joins the European Union in calling on Venezuela to postpone the May 20 election until there are better assurances that it will be a free and fair democratic contest. President Nicolas Maduro is seeking a second six-year term, and opposition lawmakers have said security forces have physically threatened them and their supporters.

Pence will make the statement when he addresses more than two dozen ambassadors in a speech at the Organization of American States, according to the people who spoke on condition of anonymity.

Elections in Venezuela are traditionally held in December, but the country’s National Electoral Council scheduled the contest for spring -- a move critics say aims to take advantage of divisions within the opposition. The U.S. State Department has said not all political parties have agreed to the elections, limiting the ability of individuals to run.

The U.S. continues to weigh whether to ban imports of Venezuelan oil, which accounts for 95 percent of the country’s foreign-currency earnings. Venezuela, a founding member of OPEC, has the world’s largest proven reserves and is South America’s largest oil exporter. It is the third-largest source of U.S. imported oil.</s>WASHINGTON, May 7 (Reuters) - U.S. Vice President Mike Pence called on Monday for the Organization of American States to suspend Venezuela’s membership in the 35-nation group, and he announced new U.S. sanctions targeting drug kingpins said to be linked to the government.

Pence, in a speech to the OAS, urged socialist Venezuelan President Nicolas Maduro to suspend elections scheduled for May 20, saying they would be a “fraud” and a “sham.” He also urged Venezuela’s neighbors in the hemisphere to step up their own measures against Caracas, imposing visa restrictions for leaders and taking other action to hold Maduro accountable.</s>"Samuel Moncada accuses Mike Pence of an international crime by violating the charters of the OAS and the United Nations in light of his statements at the protocolary meeting of the OAS Permanent Council," the statement released on Monday said.

On Monday, Pence called on OAS member state to suspend Venezuela's membership in the organization its government's disrespect for democratic principles.

READ MORE: US Calls on American States Organization to Halt Venezuela's Membership — Pence

The United States has repeatedly blamed Maduro for attacking the democratic rights of the Venezuelan people and destroying the country's economy as result of the reign of corruption, which caused Venezuela to plunge into a political and economic crisis.</s>US asks Organization of American States to suspend Venezuela

WASHINGTON (AP) — Vice President Mike Pence on Monday asked the countries of the Western Hemisphere to suspend Venezuela from the 35-nation Organization of American States.

Pence also urged member states to cut off Venezuelan leaders from their financial systems and to enact visa restrictions.

"To uphold the democracy and freedom, we call the members of the OAS to suspend Venezuela from the Organization of American States," said Pence, the first U.S. vice president to address the group since Al Gore in 1994.

Pence asked Venezuelan President Nicolas Maduro to suspend the May 20 presidential election, which he called "no more than fraud and sham." Pence also urged Maduro to "open Venezuela to international aid, and do it now."

Venezuela has refused to allow international aid, alleging that would amount to foreign intervention. The South American nation also denies there is an ongoing humanitarian crisis, even though thousands of Venezuelans have fled to other countries in the region.

Venezuela did not send an official to hear Pence's speech, but minutes later Samuel Moncada, Venezuela's deputy foreign relations minister for North America, called Pence remarks a "farce" and a "monstrosity".

Moncada said in April 2017 his country started a two-year process to withdraw from the Washington-based Organization of American States.

"We want to leave. We are counting the days so we can leave, but this is the most dangerous place in the world for Venezuela and I have to show up to defend Venezuela," he said.

Moncada also said there is "no possibility" that the May 20 election does not take place.

"They are an expression of our sovereignty," he said.

Pence also said during the speech that the Trump administration had designated a former official of the Venezuelan intelligence service, two of his aides and 20 companies under their control as narcotics traffickers.

The U.S. Department of the Treasury's Office of Foreign Assets Control said Pedro Luis Martin Olivares was indicted in 2015 by a grand jury in Florida for willfully conspiring to distribute a controlled substance into the United States and possession with intent to distribute a controlled substance on board an aircraft registered in the United States.

Additionally, OFAC imposed sanctions on Walter Alexander Del Nogal Marquez and Mario Antonio Rodriguez Espinoza for assisting Martin and on 20 companies in Venezuela and Panama that are owned or controlled by those three individuals.

The action freezes any of their assets in the U.S. or any assets held by people in the U.S.

Those sanctioned Monday are in addition to the dozens of current and former Venezuelan officials the U.S. already has targeted.

They include Vice President Tareck El Aissami for alleged involvement in international drug trafficking. The U.S. also has imposed economic sanctions on Venezuela at a time when it's seeking to refinance a huge international debt.
United States Vice President Mike Pence calls on Venezuela to suspend its presidential election later this month citing corruption concerns. This follows a similar announcement made by the European Union.