Carrying a Venezuelan national flag, people march in support of Venezuela's President Nicolas Maduro as they protest against US sanctions in Caracas on August 23, 2019. (Photo: VCG)

WASHINGTON, Sept. 17 (Xinhua) -- U.S. Treasury announced on Tuesday that it has imposed sanctions on three individuals and 16 entities which it claimed have connections with a corruption network profiting from a Venezuelan food subsidy project.

The targeted individuals are relatives of Colombian businessman Alex Nain Saab Moran and the son of Saab's business partner Alvaro Enrique Pulido Vargas, according to a statement from the Treasury.

The designated entities are owned or controlled by Saab himself or people related to him, said the statement.

The Treasury blacklisted Saab in July, claiming that he personally profited from overvalued contracts including the Venezuelan government's food subsidy program and funneled money to Venezuelan President Nicholas Maduro's stepsons in exchange for access to Venezuelan government contracts.

As a result of the sanctions, all property and interests of these targeted individuals and entities that are in the United States would be blocked. Also, U.S. persons are generally prohibited from all dealings that involve any property of these individuals and entities.

The United States has been pursuing a policy of economic sanctions and diplomatic isolation against the Venezuelan government in support of the opposition leader Juan Guaido.