In a manoeuvre reminiscent of its assault on the finances of Vladimir Putin's friends in the wake of Russia's invasion of the Crimea, the US Treasury is targeting Nicolas Maduro Moros and is hinting that various members of his country's consituent assembly could also be in its crosshairs.

As a result, all assets of Nicolas Maduro subject to US jurisdiction have been declared frozen and US persons are prohibited from dealing with him. This might open the door to sanctions against other 'politically exposed persons' from Venezuela.

Secretary of the Treasury Steven Mnuchin heralded the policy with a declaration that "illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people...anyone who participates in this illegitimate ANC [Asamblea Nacional Constituyente, or National Constituent Assembly, whose members have just been elected] could be exposed to future US sanctions for their role in undermining democratic processes and institutions in Venezuela."

Nicolas Maduro (dob 23rd November 1962) was elected President of Venezuela on 14 April 2013, after the death of former President Hugo Chavez. Before then Maduro had been the Executive Vice President and Minister of Foreign Affairs.

Under Maduro, the US Treasury claims, the Venezuelan government has deliberately and repeatedly abused the rights of citizens through the use of violence, repression, and criminalisation of demonstrations - conduct of which the US Government only approves when the dictator in question is one of its allies. The American administration is also complaining about the criminalisation of opposition parties, arbitrary detention and worse.

The US Government, in the Treasury press release, also expresses a distate for the "military prosecution of civilians, and the excessive use of force against demonstrators," at least when it comes to Venezuela.

The Treasury imposed the sanction in consultation with the State Department and in accordance with Executive Order 13692. Its press release on the subject specifically mentions that fact that Venezuela has "among the world's largest oil reserves."