The government in Venezuela has warned that US sanction will lead to a halt in oil production in the country which would affect he economy in the region.
President Trump’s has sanctioned a deal that bans trade in Venezuelan and made it impossible for the state oil firm from pushing bonds in the US.
Mr Maduro in a live broadcast denounced the sanctions by the US stating that it was an act of aggression that was illegal.
“Venezuela will never submit to any imperial power,” he said.
Mr Trump’s order, which was signed last week, will lead to the closure of Citgo Petroleum, a US-based branch of the Venezuelan government owned oil company, PDVSA.
The will lead to a lot of Americans losing their jobs, Mr Maduro said, and the affect would also trickle down to other US companies.
“We will sell our oil to other countries,” he added.
The foreign minister of Venezuela Jorge Arreaza stated that the United States was trying to instigate a humanitarian crisis in the country. He also stated that Venezuela was now a victim of false news regarding the state of its economy.
The United States accuses the government of Mr Maduro’s of violating human rights and also subverting democracy.
Mr Arreaza stated that the sanctions and “threats” is nothing but “uncivilised politics”.
President Maduro also revealed that he will not be attending the UN General Assembly set to hold in New York.