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The statement was the latest in a barrage of Trump administration attacks on Maduro, whose inauguration to a new term as president on Thursday has been widely denounced as illegitimate.
While opposition calls for protests against 56-year-old Maduro on Thursday, police authorities go on high alert.
According to Putin, Russia-Venezuela economic relations went through very difficult times in previous years with a significant drop in trade.
The announcement came three months after a wage hike of 3,400 percent and a devaluation that removed five zeros from Venezuela's currency.
In May, shortly after Nicolas Maduro's re-election, the US ordered sanctions in an effort to prevent Venezuela from quickly selling off key assets.
Trump's remarks drew a swift reaction from Venezuela, which since the time of Maduro's firebrand predecessor Hugo Chavez has lashed out at the United States.
President Donald Trump said the penalties were aimed at the "repressive regime" in Caracas that is responsible for a "human tragedy" in the once oil-rich nation
According to the United Nations, some 1.6 million Venezuelans have fled the country since 2015, with the numbers accelerating all the time.
The new passport rules threatened to leave tens of thousands stranded in Ecuador and Colombia, exacerbating problems there.
Opposition critics slammed the plan as inadequate in the face of inflation that topped 82,000 percent in July and called for a one-day halt of commercial activities.
To date, 14 people have been arrested and charged for allegedly taking part in the August 4 incident in which Maduro was seen reacting on live television to an off-camera explosion .
Venezuela said today it has asked Interpol to arrest an opposition politician exiled in Colombia and accused of involvement in an apparent attack against President Nicolas Maduro.
Maduro, who has systematically sidelined the opposition as he tightens his grip over his troubled nation, accuses the opposition and Colombia of being behind Saturday's drone "attack."