CARACAS, March 20 (Xinhua) -- The vice president of the ruling United Socialist Party of Venezuela slammed on Monday U.S. President Donald Trump for signing a decree prohibiting Americans from using Venezuela's newly introduced cryptocurrency, the Petro.

In a statement reported by local media, Diosdado Cabello said that Trump was "wrong" when he announced possible further sanctions against the government of Venezuelan President Nicolas Maduro.

"Today, the emperor Trump has announced measures that will not be easy to execute, but imperialism is seeking to sow fear, to scare the free peoples of the world," he added.

Cabello expressed his "profound indignation and rejection at the decision of the North American imperialism, which is intended to submit Venezuela to more blockades, and our people to more sanctions and to more aggressions."

Trump signed an executive order Monday, forbidding any American company or person from carrying out transactions in the Petro.

Backed by the country's oil reserves, Venezuela launched the Petro cryptocurrency last month, and has since seen 5 billion U.S. dollars in buying intentions, according to the government.