US warns nations not to assist Venezuela

CARACAS, Venezuela — U.S. national security adviser John Bolton pressed his case Tuesday for sweeping action against Venezuela’s President Nicolas Maduro, warning foreign governments and companies that they could face retaliation in the U.S. if they continue to do business with his socialist administration.

Bolton’s comments came after the White House froze all Venezuelan government assets in the U.S. late Monday, putting the country on a short list of U.S. adversaries, including Cuba, North Korea and Iran, that have been targeted by such aggressive measures.

“The Maduro regime now joins that exclusive club of rogue states,” Bolton said at a conference in Peru of more than 50 governments aligned against Maduro.

The ban blocking companies and individuals from doing business with Maduro’s government and its top supporters took effect immediately. It’s the first of its kind in the Western Hemisphere since an asset freeze against Gen. Manuel Noriega’s government in Panama and a trade embargo on the Sandinista leadership in Nicaragua in the 1980s.

“We are sending a signal to third parties that want to do business with the Maduro regime: Proceed with extreme caution,” Bolton said. “There is no need to risk your business interests with the United States for the purposes of profiting from a corrupt and dying regime.”

While the order falls short of an outright trade embargo, it represents the most sweeping U.S. action to remove Maduro since the Trump administration recognized opposition leader Juan Guaido as Venezuela’s rightful leader in January.

Critically, it also exposes foreign entities doing business with Maduro to so-called secondary sanctions in the U.S.

“Every country that has investments in the U.S. should be very worried because this sets a dangerous precedent against private property,” Venezuelan Vice President Delcy Rodriguez said.