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Germany and other European Union (EU)  countries threatened Venezuelan President Nicolas Maduro with further sanctions on Monday.

A bitter power struggle is raging in Venezuela between Maduro and opposition leader, Juan Guaido, who is supported by the U.S. and many Latin American and European countries.

Socialist President Maduro, whose country is suffering from a severe economic crisis, can count on support from China, Russia, Cuba, Bolivia and Nicaragua.

“We are all in agreement that we not only maintain our support for Juan Guaido, but that we intensify it,” German Foreign Minister, Heiko Maas, said on Monday after consultations with EU counterparts in Brussels over a possible increase in sanctions.

“We cannot allow Maduro to play for time and be the winner of the game in the end”.

The EU’s current sanctions on Venezuela affect 18 confidants of Maduro.

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They are subject to EU entry bans and asset freezes.

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The export of arms and equipment to Venezuela, which can be used to suppress civilians, is also prohibited.

There is a possible solution to the political and economic crisis in Venezuela that is not receiving due attention in the international community.

According to the first paragraph of article 71 of the constitution of the Bolivarian Republic of Venezuela: “Matters of special national interest may be subjected to a consultant referendum by the initiative of the president of the republic and his ministers.

“Others are by agreement of the majority in the National Assembly; or by a petition of 10 per cent or more of citizens registered with the voters national registry.

“We also ask the UN to issue a resolution forbidding acts of foreign aggression against Venezuela, calling for the return of the illegally retained funds of the country, and offering support to implement the results of the referendum”.