The United States Government announced this Wednesday, April 17, the partial suspension of the relief of sanctions on Venezuelan oil and gas, in response to the failure by the president of Venezuela, Nicolás Maduro, to comply with his electoral commitments and the disqualification of the candidate opposition María Corina Machado.
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Joe Biden's Government issued General License 44 in October 2023, which lifted sanctions on Venezuelan oil and gas for six months. The relief of sanctions was presented as an incentive for the president of Nicolás Maduro to comply with the Barbados Agreements, agreed with the Venezuelan opposition for the holding of democratic and competitive elections.
But, pointing out a failure to comply with Barbados' commitments, the United States Department of the Treasury announced this Wednesday, April 17, its decision not to renew the relief that expired at midnight and set a deadline of May 31 for companies to foreign companies to stop all oil and gas production and export operations that they have had during the last six months.
With this decision, companies that want to do business with the state oil company Petróleos de Venezuela (PDVSA) must request individual authorizations from the US Treasury, which will be evaluated on a case-by-case basis.
The end of General License 44 means that all activities that were being carried out under this permit must be closed in the next 45 days and that new operations are no longer permitted.
Failure to comply with Maduro's electoral commitments
The United States measure takes place after María Corina Machado, the opposition's favorite candidate, was disqualified from running in the elections on July 28 and the electoral authorities did not allow the person chosen as her replacement, Corina Yoris, to be registered.
In addition, the United States has recently reported a series of arrests of politicians and activists in Venezuela.
According to US sources, the Maduro Government has complied with some aspects of the Barbados Agreements, such as updating the voter registry or authorizing international electoral observation missions.
But for the United States, the disqualification of Machado and the blockade of Yoris represent a flagrant breach.
News in development…
With Efe and Reuters
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