Scott Pushes Proposal to Cut Ties with Companies Investing in Maduro Regime

Gov. Rick Scott is continuing his hardline approach against the oppressive policies of the Venezuelan government and plans to ask the State Board Administration to put the kabosh on doing business with the Maduro regime at a meeting next month. 

On Thursday Scott released details of a plan to prohibit the state from engaging in any business ventures with companies supporting the Maduro regime.

Under the proposal, the SBA will be prohibited from investing in any securities issued by the Venezuelan government and the SBA would also be completely prohibited from doing business with any financial institution or U.S. company which either directly or indirectly works with the government of Venezuela. 

The SBA will also be completely prohibited from participating in any vote or resolution that advocates or supports the Maduro regime. 

Scott will bring the proposal up for the SBA’s consideration at its next meeting Aug. 16. 

The move is considered a symbol of resistance against the Venezuelan regime. The SBA currently does not maintain any investments with the Venezuelan government at the present time. 

Scott has recently dived into the Venezuelan issue, traveling around the state this summer to speak out on the South American country’s “oppressive” policies.

“The atrocities happening at the hands of the brutal and oppressive Maduro regime are unspeakable,” Scott said Thursday. “I have heard firsthand from Floridians about the need for change in Venezuela.”

Scott called the SBA proposal a “big step in the right direction,” but said Florida shouldn’t grow complacent thinking it had done enough.

“We must continue to find ways to bring freedom and democracy to Venezuela,” he said. 

Venezuelan President Nicolas Maduro is planning to rewrite the country’s constitution despite millions of Venezuelans participating in a vote against the rewrite earlier this month. 

President Donald Trump recently issued a strong statement speaking out against the Maduro regime, issuing a statement warning the country what will happen if it follows through with the constitutional rewrite.

“The United States will not stand by as Venezuela crumbles,” a statement from the White House read. “If the Maduro regime imposes its Constituent Assembly on July 30, the United States will take strong and swift economic actions.

Scott’s announcement comes on the heels of the U.S. Treasury Department’s sanctioning of 13 government officials in Venezuela for their role in the Maduro regime -- a move the governor said he supported completely.

“I am encouraged by the Trump administration’s sanctions against the Maduro regime this week,” Scott said. “President Trump’s swift actions on this issue are welcomed and I look forward to working with our federal and state partners to support democracy in Venezuela.”

Scott initially proposed boycotting companies doing business with the Maduro regime, but state law suggests actually following through on that threat could be problematic, as a U.S. Supreme Court ruling currently bars groups like the SBA from telling state agencies to boycott specific companies. 

The SBA currently does not do any business with the Venezuelan government, but Scott’s resolution would put a complete stop on any possible future business with the South American country which has been mired in controversy and political unrest in recent years. 

CFO Jimmy Patronis said Thursday Florida would under "no circumstances" invest in the Venezuelan government.

"I have confirmed that the Florida Treasury conducts no business with Venezuelan companies that have ties to Maduro's regime, and I commit my vote as a trustee to reviewing all measures to remove every last investment penny from companies that provide support, in violation of federal law, to the Maduro regime," Patronis said.

 “Nicolas Maduro’s attempt to rewrite Venezuela’s constitution and take power away from his citizens is reprehensible,” said Scott. “This brash attempt, which completely disregards the will of the people, will not be tolerated. Floridians stand with our fellow Americans for freedom and democracy in Venezuela and all Latin America.”

Reach reporter Allison Nielsen by email at allison@sunshinestatenews.com or follow her on Twitter: @AllisonNielsen.