Bolton warns foreigners that violate Venezuela asset freeze

WASHINGTON (AP) — U.S. National Security Adviser John Bolton pressed his case Tuesday for sweeping action against Venezuela's President Nicolás Maduro, warning foreign governments and companies that they could face American retaliation if they continue to do business with his socialist administration.

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

"Now, Venezuela is part of this very exclusive club of rouge states," Bolton said at a one-day conference in Peru of more than 50 nations aligned against Maduro.

The ban blocking companies and individuals from doing business with Maduro's government and its top supporters took effect immediately and is 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 — notably, it spares Venezuela's still sizable private sector — it represents the most sweeping U.S. action to remove Maduro since the Trump administration recognized opposition leader Juan Guaidó as Venezuela's rightful leader in January. Critically, it also exposes foreign entities doing business with the Maduro government to U.S. retaliation.

"The apparent goal is to give the U.S. the ability to apply the law beyond its...