The Trump administration has frozen all Venezuelan government assets in a significant escalation of tensions with socialist leader Nicolás Maduro.

It places Washington’s trade relations with the South American country on a par with Cuba, Syria, Iran and North Korea.

The ban on Americans doing business with Venezuela’s government takes effect immediately.

“All property and interests in property of the Government of Venezuela that are in the United States … are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the executive order says.

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