Bolivian President Evo Morales warns that the US will have to pay a price if it launches an aggression against Venezuela, and demands that his US counterpart, Barack Obama, "apologize" to Venezuela for his "threats."

Last week President Obama signed an executive order declaring Venezuela a "national security threat" and ordered sanctions be imposed on seven officials from the Latin American country — a possible precursor to sanctions against the country itself, as previously seen in Iran and Syria.

“Bolivia is the beloved child of Simon Bolivar and this country is prepared to fight to repel any aggression against Venezuela on the part of the United States,” the Noticias24 news portal quoted Morales as saying during an emergency meeting in Caracas of the Bolivarian Alliance for the Peoples of Our America (ALBA), an intergovernmental organization based on the idea of the social, political and economic integration of the countries of Latin America.

"This is a perfect moment for us to unite even closer in the face of any such threat,” the Bolivian leader said, adding that he would prefer seeing the US as a true defender of peace rather than a country trying to ensure its global dominion by force.

Morales said he wanted the US to be the "great defender of peace in the world", not a country which "dominates in a military way".

"I want to tell you that this unit [ALBA] should be strengthened, I really believe that America is afraid of the process of democratic, peaceful and economic liberation of Latin America and the Caribbean," he said.