EU ready to impose more sanctions on Venezuela -statement

The "grave situation" in Venezuela must end with a transition to new elections, the European Union said on Friday, warning it was ready to impose new economic sanctions on the government of President Nicolas Maduro to hasten change.

"The EU confirms its readiness to work on further targeted measures," the bloc said in a statement after imposing on Friday travel bans and asset freezes for another seven Venezuelan security and intelligence officers accused of torture.