Secretary of State Pompeo believes that Maduro will not hold free elections for fear of losing.

"There has been a lot of discussion with Nicolas Maduro in the past months, but there is no sign that he is willing to hold a free and open presidential election. He knows he will fail," US Secretary of State Mike Pompeo spoke during a visit to Costa Rica yesterday, referring to the talks of Venezuelan President Nicolas Maduro with the opposition in Norway.

Pompeo is on a trip to South America and Costa Rica is the second stop in his visit. Earlier, the US Secretary of State met Venezuelan opposition leader Juan Guaido in Colombia and reassured that Washington would pledge to increase his support.

The US Treasury Department has announced new sanctions against Venezuela for blocking 15 aircraft used by the state-owned oil company PDVSA. "Some PDVSA aircraft have been used to transport senior members of the Maduro government," the US Treasury Department said, adding that the aircraft would be confiscated if they entered the US.

Maduro said he was ready to negotiate directly with the US, adding that if Trump lifted the sanctions, U.S. oil companies could benefit greatly from Venezuelan oil.

"If there is respect among governments, no matter how big the United States is and if there is a dialogue, exchange honest information to be able to create a new relationship," Maduro told. Washington Post.

The Venezuelan political crisis intensified when opposition leader Juan Guaido declared himself interim president in January last year and was backed by the United States and many of its allies. While Maduro is still supported by the military, Guaido loses credibility within the opposition itself when his ally Parra won the parliamentary seat in the election earlier this month.