White House cancels military action against Venezuela but tightens sanctions

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"We are still analyzing a wide range of options," said Gen. H.R. McMaster, advisor for National Security matters. “Any decision will be made jointly with our allies in the region, and no military action is planned for the near future,” he added.

"We have never been so synchronized with our partners in South America," he said, referring to the recent deployment of Vice President Mike Pence to the south, in order to discuss alternatives for the Venezuelan crisis. In mid-August, while on vacation at his golf course in Bedminster, New Jersey, Trump spoke of "a possible military action, if necessary," to solve the Venezuelan political and institutional crisis. Nicolás Maduro unleashed his anger and ordered military exercises, which will begin this weekend. Many countries in the region - Brazil, Colombia, Peru, Chile, Mexico, and Ecuador - vehemently rejected the use of military power. Washington imposed, this week, new financial sanctions over Caracas, including one that forbids US citizens, companies or institutions from buying stock, or being related in any way, with the Venezuelan oil company PDVSA. The sanctions imposed by the United States, in order to turn around the dictatorship that has been installed in Venezuela, will show serious damages to the economy of the Southern American country which may force Venezuela to readjust its political views. However, being Venezuela one of the greatest oil exporters in the world, sanctions on the country’s main industry can turn out to aggravate the fragile global economy.