Dictator Venezuela: Currency Crash

dictator venezuela: The administration aims to pressure socialist President Nicolas Maduro into aborting plans for a controversial new congress that critics say will cement him as a dictator, according to The Japan Times. Venezuela's oil-based economy is in the grip of a brutal recession and a local currency crash, and Maduro has faced months of anti-government unrest that has claimed the lives of about 100 people. The move could severely restrict the OPEC nation's crude exports and starve its socialist government of hard currency. ; Sanctions prohibiting any transaction in U.S. currency by Venezuela's state-run oil firm, PDVSA, are among the toughest of various oil-related measures under discussion at the White House, the two sources said. Sanctions on dollar transactions would make it even harder for Maduro's government to secure cash for debt payments and finance imports of basic goods. The opposition coalition which organized a 24-hour shutdown last week that was heeded by millions and paralyzed large swaths of the South American nation said the next strike will be Wednesday and Thursday. Venezuela's opposition called a two-day national strike against Maduro after another day of violent clashes Saturday, where the injured included a violinist famous for his musical protests. (news.financializer.com). As reported in the news.