The United States government says it is not going to recognize the outcome of Venezuela's presidential election which will be held on Sunday.
US Deputy Secretary of State John Sullivan made the announcement in a press briefing on Sunday and stressed that Washington was actively considering strict sanctions against Venezuela’s oil industry.
He also noted that the US would discuss a response to vote with its allies at the G20 meeting in the Argentinean capital Buenos Aires on Monday.
Washington has already put in place sanctions against Caracas and top Venezuelan government officials, as well as other measures to further weaken the country’s troubled economy and prevent the government and its state oil company from accessing international credit through US markets or entities.
On Friday, the US Treasury slapped sanctions against the head of the Venezuelan socialist party, Diosdado Cabello, and his wife, Marleny Josefina Contreras, who heads the country’s tourism institute, and his brother, Jose David.
Earlier in May, the administration of US President Donald Trump has slapped more sanctions against a number of Venezuelan companies and officials, accusing them of trafficking narcotics.
President Nicolas Maduro, who is running for a second six-year term in the vote, says the US has joined forces with opposition groups to topple his socialist government.
His opponents blame him for mishandling the economy and accuse him of dictatorial tendencies.
Maduro is predicted to win the Sunday election against main opposition candidate Henri Falcon.
Some opposition members have boycotted the vote, claiming it is rigged to ensure that Maduro wins a second six-year term in office.
Caracas, however, has assured the public that the election will be free and fair, saying those opposition members who refuse to participate in the election believe they have no chance to win.