Venezuelan army and militias hold exercises after United States threat

Venezuelan Foreign Minister Jorge Arreaza

Venezuelan Foreign Minister Jorge Arreaza

"No military actions are anticipated in the near future", said USA national security advisor HR McMaster.

Training exercises across country come at the heels of new U.S. sanctions and Trump's warning of military action.

Venezuelan troops taught civilians how to shoot rifles, fire missiles and engage in hand-to-hand combat during drills held Saturday in defiance of USA sanctions and President Donald Trump's threat of military action.

This week, Trump signed a decree introducing financial sanctions against Venezuela.

"The present problem in Venezuela should be resolved by the Venezuelan government and people themselves", she told a daily news briefing.

McMaster's remarks came after the announcement of a new round of USA economic sanctions on the South American country, restricting the Venezuelan government's access to American debt and equity markets. Maduro's government has ordered two days of military exercises beginning Saturday in response to sanctions imposed by Washington. But even with this being the case, the still dealing with oil exports from the country.

Venezuela has been wracked by months of political crisis.

This weekend, the Venezuelan army forces are executing nation-wide military exercises to reject the sanctions and possible military attacks by the United States.

While Trump's administration is aiming to pressure Maduro, the new sanctions do not prohibit investors from buying the bonds that Goldman Sachs Asset Management purchased earlier this year.

Maduro pushed for a controversial vote to elect a "Constituent Assembly" with the power to rewrite the constitution as well as pass laws.

Speaking from Macarao National Park, in the western state of Miranda, Padrino said "from this observation post (and) accompanied by all of my fellow soldiers. on Sunday we officially begin this drill", Xinhua reported.

"They would bolster his discourse that Venezuela is the target of an economic war", said Smilde.

The government and state oil company have about $4 billion in debt payments coming due before the end of the year but only $9.7 billion in worldwide reserves on hand, the vast majority consisting of gold ingots that are hard to trade immediately for cash.

The new sanctions aim to block Venezuela from raising new loans on US financial markets. Important organizations such as the European Union, the United Nations and the Organizations of American States expressed in several occasion their rejection towards a new constituent assembly and the incredible violence of the national forces against the protesters.

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