Bolton threatens sanctions against foreign banks over ties to Maduro

Bolton threatens sanctions against foreign banks over ties to Maduro

The White House on Wednesday threatened to impose sanctions on foreign banks that do business with the government of Venezuela’s Nicolás Maduro, its latest bid to boost pressure on the leader to give up power.

In a statement, national security adviser John Bolton said banks “will face sanctions for being involved in facilitating illegitimate transactions that benefit Nicolas Maduro and his corrupt network.”

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“We will not allow Maduro to steal the wealth of the Venezuelan people,” Bolton said.

The Trump administration and dozens of other foreign governments have recognized Juan Guaidó, the head of Venezuela’s National Assembly, as the country’s rightful interim president and it has slapped sanctions on a number of top government officials and Venezuela’s state-owned oil company.

“Economic sanctions that have already been imposed on Venezuela are crippling the oil economy, which has always been its major source of revenue,” Bolton said Tuesday in an interview with Fox News Radio. “We are looking considering other economic steps we could take as well.”