WASHINGTON/CARACAS: The United States on Monday imposed sanctions on three Venezuelans and 20 companies for narcotics trafficking activity, as it seeks to increase pressure on socialist President Nicolas Maduro.

Of the newly sanctioned companies, 16 are based in Venezuela and four in Panama. They are owned or controlled by the three individuals, the U.S. Treasury said in a statement on its website.

“Systemic corruption and a collapse in the rule of law are defining features of Venezuela’s government,” said U.S. Treasury Secretary Steven Mnuchin.

“We will deny corrupt Venezuelan regime officials access to the U.S. financial system as we work with international partners to support the Venezuelan people in restoration of democracy and a return to prosperity.”

U.S. Vice President Mike Pence is set to discuss the sanctions in a speech to the Organization of American States on Monday, an aide to Pence said.

Pence is also expected to call for a delay in Venezuela’s presidential election, set for May 20, in his speech, the aide said.—Reuters