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The British actor and comedian performed at America's prestigious lifetime achievements in the arts event in Washington, attended by president Joe Biden and honouring stars including U2, George Clooney and Gladys Knight.
Borat told the audience: “Before I proceed, I will say I am very upset about the antisemitism in US and A. It not fair. Kazakhstan is No 1 Jew-crushing nation. Stop stealing our hobby. Stop the steal! Stop the steal!” Some guests burst into laughter while others sat in uncomfortable silence.
He continued: “Your Kanye, he tried to move to Kazakhstan and even changed his name to Kazakhstanye West. But we said: No, he too antisemitic, even for us.”
West was recently banned from Twitter after posting a picture of a swastika inside the Star of David.
Baron Cohen, in character as the bigoted Kazakh journalist, then sang a short parody of U2’s song With or Without You with the lyrics changed to “With or without Jews”.
He added: "What’s the problem? They loved this at Mar-a-Lago. They chose Without Jews.”
Borat also made fun of former US president Donald Trump.
He said: “I know the president of US and A is here. Where are you, Mr Trump?”
Looking towards Biden he went on: “You don’t look so good. Where has your glorious big belly gone? And your pretty orange skin has become pale.”
He then asked if Russian leader Vladimir Putin and the nerve agent Novichok might be responsible for the president's change in appearance.
Baron Cohen added: "But I see you have a new wife. Wawawoooah! She is very erotic. I must look away before I get a Bono.”
This joke went down well with Biden's wife Jill who was reported to be in fits of laughter.
However, some members of the audience remained silent and appeared to be uncomfortable with the gags relating to antisemitism.
Watch: Sacha Baron Cohen sues over use of Borat in advert