"Maduro willing to negotiate with opposition in Venezuela following U.S. sanctions and the cutting off of oil revenues. Guaido is being targeted by Venezuelan Supreme Court," tweeted Trump.

"Massive protest expected today. Americans should not travel to Venezuela until further notice," he added.

The oil ban by the US will have an impact of other importers of Venezuela's oil, including India, that was the third largest importer of oil from the South American country after USA and China.

According to a Bloomberg report, India brought 340,000 barrels of crude oil a day on an average last year from Venezuela. Reliance and Nayara Energy, which have the technology to convert the thick Venezuelan crude into high-grade fuel can benefit from the excess availability of oil in the country.

How China reacts to the development economically is yet to be seen.

Politically, China believes that Venezuela's affairs must and can only be decided by the its own people, state-run Xinhua news agency quoted a Chinese Foreign Ministry spokesperson as saying.

India's foreign minister spokesperson Raveesh Kumar made a similar statement: "It is for the people of Venezuela to find a political solution to resolve their differences."