UPDATE – US warns against trade with Venezuelan government

ADDS SECOND BOLTON TWEET IN GRAF 5</p> <p>By Michael Hernandez</p> <p>WASHINGTON (AA) – The U.S. issued a stern ultimatum to the international business community Wednesday, warning against commodity-based trade with the Venezuelan government, just two days after Washington blacklisted Venezuela's state-owned oil company. </p> <p>&quot;My advice to bankers, brokers, traders, facilitators, and other businesses: don’t deal in gold, oil, or other Venezuelan commodities being stolen from the Venezuelan people by the Maduro mafia,&quot; National Security Advisor John Bolton said on Twitter. </p> <p>&quot;We stand ready to continue to take action,&quot; he added.</p> <p>The warning comes amid a campaign spearheaded by Washington to apply fiscal and diplomatic pressure on Venezuelan President Nicolas Maduro to cede power to National Assembly President Juan Guaido, who claimed power last week. </p> <p>The U.S.-imposed sanctions on Venezuela's oil company also apply to a joint venture with Nicaragua's state-owned oil company, ALBANISA, Bolton said in a separate tweet.</p> <p>The U.S., Canada and most Latin American nations have recognized Guaido as the country’s legitimate leader. He called for a new wave of mass demonstrations Wednesday and Saturday after similar marches last week filled streets across the nation. </p> <p>Washington warned of severe repercussions if Guaido is harmed while Maduro has defied calls to step down, insisting the U.S. is orchestrating a coup against his government.</p> <p>Maduro said earlier Wednesday in remarks to Russia's news media he is willing to sit down for negotiations with the opposition, but defied calls for new elections in the country. </p> <p>Venezuela has been rocked by protests since Jan. 10 when Maduro was sworn in for a second term following a vote boycotted by the opposition. </p> <p>The country is experiencing widespread shortages of food and medicine, and is set to experience inflation of 10 million percent, according to the International Monetary Fund.