Carolyn Kaster and Ariana Cubillos / AP

Trump is prohibiting Venezuela and its state oil company, PDVSA, from selling debt to Americans and U.S. financial institutions. This is likely to make it harder for the dictatorship to function as it's already strapped for cash — Maduro has nearly $100 billion of debts, per Financial Times.

  • "This is not an oil embargo," a senior administration official clarified on a conference call with reporters Friday.
  • To limit harm to American and Venezuelan people, financing for export and import of petroleum will be allowed, as will transactions involving only PDVSA's U.S. affiliate, Citgo, preexisting Venezuelan debts, and humanitarian goods.
  • This comes after Maduro embraced what the White House is calling an "illegitimate" Constituent Assembly. The U.S. has previously sanctioned Venezuela three times.

Intended effect: To make sure the U.S. isn't complicit in the dictatorship and to bring a restoration of democracy to Venezuela.

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Scoop: Don Jr. plans convention-week Biden book

Cover via Don Jr.

Donald Trump Jr., in quarantine since girlfriend Kimberly Guilfoyle tested positive for the coronavirus, says he's used the time to finish a book that he'll self-publish the week of the Republican convention, at the end of August.

What he's saying: Don Jr., whose controversial blasts connect with President Trump's base, told me in a phone interview that "Liberal Privilege" will be his effort to paint a picture of Joe Biden and his record that the press ignores.

Romney calls Stone commutation "historic corruption"

Sen. Mitt Romney. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Sen. Mitt Romney (R-Utah) on Saturday tweeted a scathing response to President Trump's Friday night commutation of former associate Roger Stone's prison sentence, calling the move "[u]nprecedented, historic corruption."

Why it matters: Romney has emerged as the party's most prominent Trump critic. He sent shockwaves through Washington after announcing he would vote to convict Trump in the impeachment trial — becoming the only Senate Republican to break ranks and vote for the president's removal from office. Now he is the first major GOP lawmaker to condemn Trump's Friday night call regarding Stone.