The United States Treasury Department targets Venezuelan President Nicolas Maduro with new sanctions, citing ‘democracy’

Venezuelan President Nicolas Maduro speaks after election results are announced in Caracas on July 31, 2017. (Photo by AFP)

The United States Treasury Department has imposed new financial sanctions on Venezuelan President Nicolas Maduro.

The Monday announcement came a day after the oil-rich nation cast their ballots on electing a new assembly tasked with rewriting the constitution.

The US called the vote a “sham,” amid reports that new decisions were being made about imposing further sanctions against the country’s oil industry.

Treasury Secretary Steven Mnuchin said those participating in the assembly could face "future US sanctions for their role in undermining democratic processes and institutions in Venezuela."

“Yesterday’s illegitimate elections confirm that Maduro is a dictator who disregards the will of the Venezuelan people,” Mnuchin claimed in a statement. “By sanctioning Maduro, the United States makes clear our opposition to the policies of his regime and our support for the people of Venezuela who seek to return their country to a full and prosperous democracy.”

At least 10 people died as voting was underway with the protesters clashing in street battles with security forces.

Anti-government activists scatter upon being charged by riot police during a protest against the election of a Constituent Assembly proposed by Venezuelan President Nicolas Maduro, in Caracas on July 30, 2017. (Photo by AFP)

This is while the Venezuelan president has called for restoring peace through the new constituent assembly, also censured by Argentina, Brazil, Colombia, and Mexico.

"A spokesperson for emperor Donald Trump said that they would not recognize the results of Venezuela's constituent assembly election," Maduro told a rally of supporters shortly after Sunday’s vote."Why the hell should we care what Trump says?" he added. "We care about what the sovereign people of Venezuela say."

With over eight millions ballots cast, the vote was touted as one with the highest of voter turnouts in Venezuela’s history.

Anti-government activists attack and set on fire a National Traffic Police station during a protest against the election of a Constituent Assembly proposed by Venezuelan President Nicolas Maduro, in Caracas on July 30, 2017. (Photo by AFP)

“Peace has won. If peace has won, Venezuela has won,” said Tibisay Lucena, the president of the National Electoral Council (CNE).

Anti-government protests have been going on in Venezuela for months.

The opposition, which had already boycotted the vote, has called for further anti-government protests.