Venezuela launches Investigation into self-declared president Juan Guaido

Tensions are on the rise in Venezuela, as the government launches an investigation into self-declared interim president Juan Guaido, freezing his bank accounts and imposing a travel ban.

Venezuela’s Supreme Court retaliated against Guaido, as oil sanctions imposed by the US threaten Venezuela’s already fragile economy.

Supreme Court President Maikel Moreno, announced the investigation on Wednesday saying the travel ban and the financial restrictions were taken expressly to "protect the integrity of the country."

US and allies recognise Guaido as president

It comes after the US and most countries in the Western hemisphere officially recognised Guaido as president, presenting a challenge to current president Nicolas Maduro.

At a Caracas rally last week, Guaido said, Maduro had usurped his power.

‘I swear to assume all the powers of the presidency to secure an end to the usurpation,’ He said, addressing the crowd.

Shortly after his announcement US president Donald Trump declared Guaido the official president of Venezuala. Shortly after Canada, Brazil and Colombia followed suit.

Guaido has accused Maduro of fraudulently winning his second term last year, after six years in office.

While, Maduro accused Guaido of staging a US lead coup against him, sparking protests on both sides. Russia and China are also key players in the conflict, giving Maduro diplomatic backing at the United Nations security council.

Violent protests erupt on the streets

Guaido called for more protests on Wednesday and a mass march on the weekend, putting pressure on Maduro and his supporters.

According to the United Nations human rights office, violent protests have already led to the deaths of more than 40 people.

Government supporters have also attended large rallies led by Maduro's political allies, while the president visited military bases.

Venezuelan attorney general Tarek Saab launched the preliminary investigation of Guaido on the basis that he had helped foreign countries interfere in internal matters.