US sanctions Venezuelan state-owned gold mining company

By Michael Hernandez</p> <p>WASHINGTON (AA) – The U.S. on Tuesday blacklisted Venezuela's state-owned gold mining company CVG Compania General de Mineria de Venezuela CA, or Minerven, in its latest effort to clamp down on the country's gold trade.</p> <p>Minerven President Adrian Antonio Perdomo Mata was also designated in a pair of actions the Treasury Department said are aimed at curtailing Venezuela's &quot;illicit gold operations that have continued to prop up the illegitimate regime of former President Nicolas Maduro&quot;.</p> <p>&quot;We will aggressively pursue those involved with Maduro’s reckless illicit gold trade which is contributing to this financial, humanitarian and environmental crisis,&quot; Treasury Secretary Steven Mnuchin said in a statement. </p> <p>The Treasury Department said the mining and sale of gold has been one of the Venezuelan government's &quot;most lucrative financial schemes in recent years&quot;. </p> <p>Minerven is the only state processor of gold in Venezuela, it said. </p> <p>Any property owned by Minerven or its president is subject to U.S. jurisdiction and U.S. citizens are generally prohibited from doing business with them as a result of Tuesday's blacklistings. </p> <p>Venezuela is in the throes of a humanitarian and political crisis. </p> <p>National Assembly President Juan Guaido declared himself the country's interim president in January, insisting Venezuelan President Nicolas Maduro step down from power. </p> <p>The U.S. and dozens of other nations have recognized Guaido as Venezuela's rightful leader as Maduro insists he is the target of a U.S.-orchestrated coup. </p> <p>The political stalemate comes as Venezuela grapples with a worsening economic crisis that has led to widespread shortages of goods throughout the country and which has seen Venezuela's national power grid collapse for a week. </p> <p>Venezuela's economy has been in precipitous decline following a global downturn in the price of crude oil, the country's main export. </p> <p>Turkey, Russia, Iran, Cuba, China and Bolivia have maintained their support for Maduro.