The Trump administration hit Venezuelan President Nicolas Maduro with financial sanctions on Monday in the wake of a weekend election that gave the country’s ruling party virtually unlimited powers. The sanctions freeze any assets Maduro may have in U.S. jurisdictions and bar Americans from doing business with him. The monetary impact of the sanctions wasn't immediately clear as Maduro's holdings in U.S. jurisdictions, if he has any, weren't publicized. "Yesterday's illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people," Mnuchin said. Officials had said the sanctions could target Venezuela's oil sector, including possibly its state-owned petroleum company.

Source: Fox News July 31, 2017 19:59 UTC